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 starts the week softish down -0.1%, down -1.4% over the past five days and the same -1.4% over six months, but still up +3.8% year-on-year.
THE MAIN GAINERS
42 stocks gain, led by Tourism Holdings (THL, #46) and Mercury Energy (MCY, #5), both up +2%. Tourism Holdings has slipped -5% over the past month and -5% year-on-year, while Mercury is up +2% for the month but down -9% year-on-year. Goodman Property Trust (GMT, #15) added +1% today, rising +2% for the month but down -9% over the year. Oceania Healthcare (OCA, #45) also lifted +1%, though it remains down -12% over six months and -9% year-on-year.
Tourism Holdings
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THE MAIN DECLINERS
31 stocks decline, led by Gentrack (GTK, #27) and Fletcher Building (FBU, #14), both down -2%. Gentrack is down -1% for the month and -13% year-on-year, while Fletcher is up +3% over six months but down -6% over the year. Infratil (IFT, #4) fell -1% today, bringing its five-day decline to -4%, though it is up +5% over six months and +7% year-on-year. Vulcan Steel (VSL, #32) also dipped -1%, extending a -8% five-day drop to -15% over six months and -7% year-on-year.
Gentrack
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.2% | -1.2% | -1.8% | -2.6% | +0.6% |
| NZ Top 10 ETF (TNZ) | -0.5% | -2.5% | -6.3% | -9.5% | -3.8% |
| S/P NZX50 ETF (NZG) | +0.6% | -1.3% | -1.7% | -4.5% | +0.2% |
| NZ Dividend ETF (DIV) | -0.4% | -0.1% | +1.8% | +2.4% | +6.2% |
KEY ANNOUNCEMENTS
Meridian Energy (MEL, #2) has reached an agreement with Genesis, Mercury, and Contact to establish a strategic energy reserve at Huntly Power Station to strengthen electricity supply security amid ongoing gas shortages. CEO Mike Roan says the arrangement, which complements Meridian’s demand response with NZ Aluminium Smelter and efforts to expand hydro storage access, provides an additional safeguard against dry-year risk and supports price stability. The agreements are subject to Commerce Commission review, with operations targeted to begin 1 January 2026, and Genesis expects other parties will be able to access the reserve once approved.
Tourism Holdings (THL, #46) has rejected a $2.30 per share non-binding indicative offer from a consortium led by BGH Capital and the Trouchet family, saying the proposal is opportunistic and materially undervalues the company, which the Board believes is worth well above $3.00 per share. THL remains open to engagement if a significantly improved bid emerges. The company also reaffirmed its FY25 underlying NPAT guidance, expecting earnings at the lower end of the $27–34.4m analyst range, while statutory NPAT is likely to show a loss due to potential USA goodwill impairment, deferred tax write-offs, and other one-off non-cash items.
Briscoe Group (BGP, #25) reports unaudited second-quarter sales of $192.9m, up +2.1% year-on-year, bringing first-half sales to $371.3m, slightly below last year at 99.8%. Online sales accounted for 19.4% of first-half revenue, up from 18.8% a year ago. Homewares grew +4% in the quarter, offsetting a -1.3% decline in sporting goods amid weak discretionary spending. Group inventory is below last year, and NPAT for the half-year is expected to be at least $29m, with second-half earnings anticipated to exceed the first half. Full results and an interim dividend will be announced on the 10th of September.
a2 Milk Company (ATM, #8) has appointed Grant Dempsey as an independent non-executive director effective 1 September 2025. Dempsey, a former investment banker and CFO for ASX50 companies including Alumina and TPG Telecom, brings extensive financial, strategic, and commercial experience. He currently serves on the boards of IFM Investors, Sims Metals, Megaport, and Housing Hub, and will join a2 Milk’s Audit and Risk Management Committee. Shareholders will vote on his election at the company’s annual meeting on 20 November 2025. Chair Pip Greenwood says Dempsey’s expertise will strengthen the Board as part of its ongoing renewal and succession planning.
NZX50 Energy Sector
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