Here are the key changes to know about in the New Zealand equity market; Turners, Investore, Oceania, and SkyCity casino gain while Ryman, Meridian, Spark, and Briscoes all slip

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 down -0.2% so far today, unchanged for the past week and holding a +1.7% gain over the past month. Year-to-date, the index is down -1.4% but remains 4.9% higher year-on-year.

THE MAIN GAINERS
66 stocks rose, led by Turners Automotive (TRA, #39), Investore Property (IPL, #46), and Oceania Healthcare (OCA, #43), all up +2%. Turners is up +1% for the month and has surged +60% year-on-year. Investore has gained +3% over the past week and is up +1% on the year. Oceania is down -3% over the week and -13% year-on-year. SkyCity Entertainment (SKC, #35) adds +1% today but is still down -37% from this time last year.

THE MAIN DECLINERS
36 stocks declined, led by Ryman Healthcare (RYM, #18), down -2% today, -3% for the week, and -45% year-on-year. Meridian Energy (MEL, #2) fell -1%, down -5% over six months and -10% year-on-year. Spark (SPK, #10) also dropped -1%, despite a +3% gain in the past week, and is down -40% year-on-year. Briscoe Group (BGP, #24) eased -1%, down -4% over five days but up +26% year-on-year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Black Pearl Group (BPG) has announced a $15 mln capital raising to fund its acquisition of B2B Rocket Inc and support growth initiatives. The raise comprises a $7 mln institutional placement and an $8 mln 1-for-7.70 pro-rata accelerated non-renounceable entitlement offer (ANREO), both priced at $0.95 per share — a 13.6% discount to the last close. Up to 15.8 million new shares will be issued, ranking equally with existing shares. The institutional offer and placement run concurrently, with results due 13 August 2025, while the retail offer opens 18 August and closes 25 August 2025.

Spark New Zealand (SPK, #10) has agreed to sell a 75% stake in its data centre business to Pacific Equity Partners for up to $705 mln, valuing the unit at 30.8x FY25 pro-forma EBITDA. Spark will retain a 25% interest, with proceeds of around $486 mln at completion and up to $98 mln deferred, earmarked to reduce net debt. The assets and operations will be transferred into a new standalone company, “DC Co,” which will have its own board, management, and non-recourse debt facilities. Spark says the partnership secures funding for its 130MW+ development pipeline as demand for data storage grows with cloud and AI adoption.

Vulcan Steel (VSL, #31) expects FY25 earnings of NZ$106–109 mln EBITDA and NZ$14–16 mln NPAT, including a NZ$3 mln impairment from the sale of its Wintec operation in Australia. Net debt has fallen to NZ$232 mln, down from NZ$276 mln a year ago, with covenant relaxation extended to 30 June 2026. CEO Rhys Jones says the year was marked by challenging trading conditions and aggressive industry pricing, though recent sales trends show signs of stabilisation. Vulcan expects volumes to remain low in 1H FY26 before improving in the second half, with a focus on cost control and customer service.

Gentrack (GTK, #27) posted a +9.8% revenue increase to $112 mln for the period, with Utilities revenue up +7.2% as recurring revenue rose +17% from prior-period wins and upsells, partly offset by a -12% drop in non-recurring revenue. Veovo revenue climbed +24%, driven by +14% growth in recurring revenue and a +34% lift in project work across APAC, Europe, and the Middle East. EBITDA rose +5.1% to $13 mln, reflecting increased investment in sales and product, while NPAT jumped +34.7% to $7.2 mln, supported by a lower effective tax rate and FX gains. Cash rose to $70.7 mln from $39.3 mln a year earlier, with the company highlighting a strong balance sheet.

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