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 edged up +0.3% today so far, lifting its five-day gain to +1.4%. The index is now up +2.9% over the past month and +4.7% year-on-year.
THE MAIN GAINERS
Forty stocks are in the green, led by Fletcher Building (FBU, #14), which climbed +3% today, up +2% over five days and +7% over the month. Vector (VCT, #12) added +2%, bringing its six-month return to +14% and its year-on-year gain to +18%. Turners Automotive (TRA, #40) also lifted +2%, despite being down -2% over the past five days, and now sits +55% higher year-on-year. Meridian Energy (MEL, #2) rose +2% today but remains down -11% for the year.
Fletcher Building
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THE MAIN DECLINERS
Meanwhile, 39 stocks decline. Vulcan Steel (VSL, #32) leads this set, down -3%, though it gained +12% over the past month. Year-on-year, it slips -2%. Heartland Group Holdings (HGH, #36) dropped -1%, with its six-month and year-on-year performance both down -26%. Kiwi Property Group (KPG, #23) also fell -1% but is up +9% for the month and +8% over the year. Mainfreight (MFT, #8) declined -1% as well, down -8% over six months and -11% year-on-year.
Vulcan Steel Limited
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.2% | +0.8% | -0.5% | -0.5% | +2.2% |
| NZ Top 10 ETF (TNZ) | -0.3% | +1.1% | -4.6% | -6.4% | -1.8% |
| S/P NZX50 ETF (NZG) | +0.1% | +1.0% | -1.2% | -1.9% | +2.0% |
| NZ Dividend ETF (DIV) | +0.5% | +1.1% | +2.8% | +2.8% | +6.6% |
KEY ANNOUNCEMENTS
Air New Zealand (AIR, #22) has appointed Nikhil Ravishankar as its next Chief Executive Officer, succeeding Greg Foran, who will step down in October after nearly six years in the role. Currently Chief Digital Officer at Air New Zealand, Nikhil will officially take over on 20 October 2025. Chair Dame Therese Walsh says the appointment signals a new chapter for the airline, with Nikhil bringing strong leadership, digital expertise, and a deep understanding of the business and sector. Prior to joining the airline, he held senior roles at Vector and Accenture. Ravishankar says he is honoured to lead an airline deeply rooted in Aotearoa, with a focus on people, innovation, and a strong future.
Synlait Milk (SML) expects a significantly improved result for FY25, forecasting underlying EBITDA of $100–$110m (up from $45.2m in FY24) and breakeven underlying NPAT (vs. a -$60.4m loss last year). However, manufacturing challenges at its Dunsandel facility earlier in the year have resulted in one-off costs, and the company now expects a reported net loss after tax of -$27m to -$40m. Despite these issues, the Dunsandel site is now back in production following winter maintenance. Synlait remains compliant with banking covenants and targets a closing net debt of $300m. The full-year result will be released on the 29th of September.
NZX50 Tourism Sector
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Click on the chart title to find more about this sector, including its components.
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