Here are the key changes to know about in the New Zealand equity market; NZX50 slips -0.6% as Ryman, Summerset, SkyCity casino, and Serko fall while the NZX, Mainfreight, Turners, and Freightways all rise

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 -0.6% so far today but remains up +2.2% over the past month, +6.3% over six months and +4.5% year-on-year.

THE MAIN GAINERS
There were 28 gainers. NZX (NZX, #46) rose +1%, flat over the past five sessions but down -10% in six months and up +11% year-on-year. Mainfreight (MFT, #9) added +1%, though down -5% in the past five days and -17% year-to-date, leaving it -17% lower year-on-year. Turners Automotive (TRA, #39) gained +1%, lifting monthly gains to +3% and up +62% over the year. Freightways (FRW, #19) rose +1%, up +9% for the month, +15% year-to-date and +29% annually.

THE MAIN DECLINERS
Declines outweighed gains with 46 stocks lower. Ryman Healthcare (RYM, #18) dropped -3%, down -4% in the past five days and -43% year-to-date, also -43% lower year-on-year. Summerset Group (SUM, #16) fell -3%, down -2% in the past week, -12% in six months and -10% annually. SkyCity Entertainment (SKC, #41) declined -2%, extending a -24% monthly drop and a -48% fall year-on-year. Serko (SKO, #49) also slipped -2%, down -27% in six months and -13% over the year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Scott Technology (SCT) will present its five-year Destination 2030 strategy at its inaugural Investor Day in Auckland today, targeting $530 mln in revenue by 2030, up from $276 mln in FY24. The company expects record FY25 EBITDA of $30.5 mln–$31.5 mln (FY24 operating EBITDA $30.2mln), with revenue of $270 mln–$275 mln versus $276 mln last year, reflecting strong second-half momentum. Recent contract wins include NZ$19 mln of palletising projects with Agristo and Lutosa, and Protein Domain’s first UK install with Dawn Meats.

Meridian Energy (MEL, #2) reported national hydro storage fell from 87% to 79% of historical average in the month to 8 September, with South Island storage at 73% and North Island at 98%. August inflows were 73% of average, including 67% in the Waiau catchment and Waitaki storage at 65%. Snow storage in Waitaki was 78% of average in early September, while Waiau storage was 84% at month end. August was dry and cool, with national electricity demand up +5.9% on last year. NZAS average load was 565 MW, and Meridian’s retail sales rose +12.8% year-on-year, including gains in residential (+35.3%), small-medium business (+7.2%), large business (+14.6%), agriculture (+2.2%) and corporate (+4.3%).

Spark (SPK, #11) has launched its five-year SPK-30 strategy, refocusing on core connectivity and targeting improved network leadership, customer experience, and financial performance. The plan prioritises mobile, broadband and business connectivity, with investments in 5G, wireless broadband, satellite-to-mobile services, AI-driven customer solutions, and new opportunities through its partnership with API aggregator Aduna. Spark aims to lift return on invested capital from 8.7% to 11–13% over five years, deliver consistent free cash flow growth, and support a sustainable dividend. Chair Justine Smyth will stand for re-election at November’s AGM, with plans to remain for up to 12 months to oversee a smooth transition as part of the Board’s succession process.

Kiwi Property (KPG, #22) has set the price for its Dividend Reinvestment Plan at $1.0123 per share for the quarterly dividend payable on 19 September 2025, reflecting a 2% discount to the five-day VWAP post ex-date. Around 28% of shareholders, representing 50% of shares on issue, have elected to participate in the DRP.

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