Here are the key things you need to know about in the NZX markets over the past 24 hours. Changes are as at 3:00 pm and may change when the market closes at 4:45 pm.
WHAT THE NZX 50 INDEX IS DOING
The NZX50 has fallen -0.4% so far today and is down -0.6% over the past month. Year-on-year, the index remains up +7.7%.
THE MAIN GAINERS
There are 35 gainers in the equity market today. Kathmandu Brands (KMD, #50) leads, rising +5% today despite being down -6% over the last five days and -22% year-on-year. Summerset Holdings (SUM, #16) gains +2%, though it has declined -16% over the past six months. Year-on-year, it’s up +16%. Hallenstein Glassons (HLG, #43) also lifts +2%, though it’s down -2% over the past five days. The stock remains strong year-on-year, up +42%. The Warehouse Group (WHS, #49) adds +1%, though it’s down -7% over five days and -19% year-on-year.
THE MAIN DECLINERS
Among the 45 decliners, Tourism Holdings (THL, #48) and Oceania Healthcare (OCA, #44) both fell -5%. Despite the drop, THL is up +5% over six months and +21% year-on-year, while Oceania is up +4% in the past five days and +18% year-on-year. Vista Group (VGL, #32) drops -4%, falling -8% over five days but still up +51% year-on-year. Vulcan Steel (VSL, #31) fell -3%, down -15% for the month and -14% year-on-year.
SMARTSHARES EFTs
| |
1-day |
5-day |
6-month |
YTD |
1Y |
| NZ Top 50 ETF (FNZ) |
-1.0% |
-0.5% |
-2.2% |
-3.8% |
+5.8% |
| NZ Top 10 ETF (TNZ) |
-0.5% |
+0.3% |
-2.4% |
-7.9% |
+0.7% |
| S/P NZX50 ETF (NZG) |
-0.04% |
+0.2% |
-1.6% |
-4.9% |
+5.2% |
| NZ Dividend ETF (DIV) |
-0.2% |
+0.4% |
+0.9% |
-2.6% |
+6.6% |
KEY ANNOUNCEMENTS
Spark (SPK, #11) has agreed to sell its 10% stake in Hutchison Telecommunications (Australia) Limited (HTAL) to Hutchison Telecommunications (Amsterdam) BV for A$0.032 per share—representing a 45% premium to the upper valuation range provided by an independent expert. The move aligns with Spark’s strategic review of non-core assets and is expected to generate NZ$47 million in cash proceeds in July 2025, which will be used to reduce net debt.
Ryman Healthcare (RYM, #18) has announced that CFO Rob Woodgate will step down following the company’s Annual Shareholders Meeting, with Matthew Prior appointed as his successor effective 31 July 2025. CEO Naomi James thanked Woodgate for his role in resetting the balance sheet, transitioning to a new auditor, and enhancing financial transparency. Prior, formerly CFO and Head of ANZ at Emerald Clinical, brings extensive healthcare and capital markets experience, including past roles at Virtus Health, Cochlear, and Bank of America Merrill Lynch. He has been supporting Ryman’s strategic priorities since March, and Woodgate will remain available for two months post-transition to ensure a smooth handover.
Fletcher Building (FBU, #14) has announced that the Construction JV, comprising Fletcher Construction and its 50% partner Acciona, has reached a settlement with NZTA and the Northern Express Group over claims related to COVID-19 and weather delays affecting the Puhoi to Warkworth motorway project. While the settlement is lower than anticipated, it avoids prolonged dispute resolution and will see Fletcher receive ~$56 million in FY25, though it will also record a ~$16.4 million loss against FY25 EBIT. The P2W project, originally due in December 2021, opened in June 2023. Insurance claims and minor issues remain under negotiation to finalise the project.
Downer EDI has successfully refinanced $1b of its $1.3 bln syndicated sustainability-linked loan facility, extending three of the four tranches to maturities ranging from 2029 to 2032. The facility was resized from $1.4b to $1.3b following a review of funding needs. Proceeds will help repay the A$182m US Private Placement maturing in July 2025, with a $400m bridge facility also in place to support refinancing of a $500m AMTN maturing in April 2026. The refinancing strengthens Downer's financial position and extends its average debt maturity to 3.4 years.
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