Here are the key changes to know about in the New Zealand equity market; Gains today are led by Infratil, Vista, Mainfreight & Tower. The declines are led by Tourism Holdings, Oceania, Fletcher and Channel Infrastructure

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 is up +0.7% today, remaining flat over the last five trading days. The index is down −1.8% over the past six months but maintains a year-on-year gain of +4.8%.

THE MAIN GAINERS
40 companies advance. The session's top performer is Infratil (IFT, #4), which is up +5%. The stock is also up +3% over the last five days and +6% year-on-year. Vista Group (VGL, #34) gains +3.0%; the company shows a six-month rise of +20% and is up +57% for the year. Mainfreight (MFT, #8) and Tower Limited (TWR, #42), which both advance by +2.0%. MFT remains down −6% over six months and −10% year-on-year, while TWR shows strong long-term growth of +32% in the last six months and +74% year-on-year.

THE MAIN DECLINERS
On the downside, Tourism Holdings (THL, #46) leads the decliners with a −4% loss, though it remains up +4% year-on-year. Oceania Healthcare (OCA, #41) falls by −3%, bringing its six-month decline to −4%, yet it still holds a yearly gain of +29%. Fletcher Building (FBU, #14) drops −2%, resulting in a year-on-year decline of −4% despite being up +5% over the last six months. Lastly, Channel Infrastructure (CHI, #33) slips by −1%, though it retains a strong year-on-year gain of +48%.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Meridian Energy (MEL, #2) released its monthly operating report for June 2025, detailing strong hydro performance and robust retail growth. The company reported inflows at 111% of the historical average for the month, which contributed to a significant increase in national hydro storage to 104% of average by mid-July. In tandem with a 1.4% year-on-year rise in national electricity demand, Meridian's retail sales volumes grew by a notable 7.9% compared to June 2024, with increases across all customer segments. The New Zealand Aluminium Smelter's average load during the month was 530MW.

Heartland (HGH, #35) is set to announce its full year results for the year ended 30 June 2025 (FY2025) on Thursday 21 August 2025, and publish its annual report for FY2025 on Tuesday 30 September 2025.

Mercury (MCY, #5) released its quarterly operational update, reporting that its full-year hydro generation from the Waikato scheme was the fourth lowest since 1980 due to dry conditions and low starting lake levels. However, the company noted that strong inflows towards the end of the quarter have resulted in healthy hydro storage leading into the new financial year. Looking ahead, Mercury has upgraded its mean annual hydro generation forecast to 4,140 GWh from FY26, attributing the uplift to efficiencies from its 'Digital River' AI platform and the near-complete Karāpiro hydro station rehabilitation project, which is expected to conclude in September 2025.

Fonterra Co-operative Group (FCG) today confirmed the appointment of Mr. Pat Duignan to its Milk Price Panel, following his nomination by the Minister of Agriculture as required under the Dairy Industry Restructuring Act (DIRA). Mr. Duignan, who replaces Ms. Ming Lim-Pollard, brings extensive experience in regulation and economics, having previously served as a Commissioner at the New Zealand Commerce Commission. Fonterra's board has determined that Mr. Duignan is an independent member, ensuring the Panel maintains its required majority of independent members.

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