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 ends the day relatively unchanged, down -1.2% over the past five days. Over the last six months, the index is down -4.1%, though it still records a +7.9% gain year-on-year.
THE MAIN GAINERS
There are 47 gainers in the equity market, led by Channel Infrastructure (CHI, #31), which climbed +4% today, gaining +2% over the past five days and +6% for the month. Year-on-year, it posted a strong +51% return. Tower Limited (TWR, #41) rose +3%, up +6% in the past week and a standout +82% year-on-year. Vector (VCT, #12) lifted +2%, now up +13% over the year. Oceania Healthcare (OCA, #45) also added +2%, gaining +8% over five days and +21% year-on-year.
Channel Infrastructure
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THE MAIN DECLINERS
Among the 40 decliners, Sky Network Television (SKT, #47) is the worst, falling -3%. It’s down -2% over five days but still holds a +19% gain for the year. Vista Group (VGL, #33) droped -2%, although it's up +10% over six months and +55% year-on-year. Fletcher Building (FBU, #14) also lost -2% today, declining -6% over the week but still up +7% over 12 months. Kathmandu Brands (KMD, #50) slipped -2%, down -11% for the week and -27% year-on-year.
SKY Network Television
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.3% | -0.7% | -4.0% | -3.7% | +6.6% |
| NZ Top 10 ETF (TNZ) | -0.1% | -1.8% | -8.9% | +8.9% | +0.5% |
| S/P NZX50 ETF (NZG) | +0.5% | -0.8% | -4.6% | -4.6% | +5.6% |
| NZ Dividend ETF (DIV) | +0.6% | -0.3% | -2.2% | -1.4% | +6.9% |
KEY ANNOUNCEMENTS
Fletcher Building (FBU, #14) has kicked off its Investor Day 2025 in Auckland, outlining its strategy and FY25 outlook following a recent strategic review. CEO Andrew Reding says the focus will be on manufacturing and distribution of building products, with immediate actions and performance levers shared with investors. The company expects FY25 EBIT (before Significant Items) to be between $370m–$375m (or $386.4m–$391.4m excluding the $16.4m P2W settlement). Total Significant Items for FY25 are expected to range from $573m to $781m, covering restructuring, impairments, ERP write-offs, and provisions, including previously announced costs tied to Iplex Australia, Tradelink, and the NZICC.
Vulcan Steel (VSL, #32) has announced that its banking syndicate has extended the company’s relaxed covenant thresholds through to 30 June 2026, originally set to expire at the end of 2025. The move, made as a precaution amid ongoing economic uncertainty, ensures Vulcan retains ample working capital headroom. The company has no debt maturing until FY27 and continues to operate with strong liquidity. CEO Rhys Jones says the extension reflects lender confidence in Vulcan’s capital discipline and positions the business to meet improving demand across Australia and New Zealand.
Goodman Property Trust (GMT, #15) has released the 2025 Annual Report for Goodman Property Trust and GMT Bond Issuer Limited, incorporating climate-related disclosures and a new remuneration report following the internalisation of management functions. CEO James Spence says the report outlines strong financial results, development-led growth, and the benefits of the new capital partnership at Highbrook Business Park. It also details governance improvements, a new remuneration framework, and extended carbon reduction targets, reinforcing GMT’s focus on long-term sustainability.
NZX50 Industrial Sector
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