Here are the key changes to know about in the New Zealand equity market; NZX50 dips as Ryman, Tower, Fletcher, and Stride Property rise; Briscoes, Infratil, Kathmandu, and Mercury all fall

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 tracking towards a -0.6% decline today, finishing the week down -1.2%. Over the past six months the index remains up +6.0%, with a year-on-year gain of +4.7%.

THE MAIN GAINERS
There were 35 gainers, led by Ryman Healthcare (RYM, #18) which rose +5%. Despite today’s lift, Ryman is down -6% over six months and -39% year-on-year. Tower Limited (TWR, #40) gained +2%, up +4% for the month and +37% year-on-year. Fletcher Building (FBU, #14) also rose +2%, gaining +7% over the month and +11% over the year. Stride Property Group (SPG, #36) was up +1%, taking its six-month performance to +18%, though still down -2% year-on-year.

THE MAIN DECLINERS
Meanwhile, 46 companies finished lower. Briscoe Group (BGP, #28) led the declines, down -3% and -12% over the month, though still up +4% year-on-year. Infratil (IFT, #4) fell -2%, leaving it down -1% over the week and flat year-on-year. Kathmandu Brands (KMD, #50) also dropped -2% despite an +11% weekly gain, with shares still down -43% over the year. Mercury Energy (MCY, #5) declined -2%, though remains up +17% over six months and +6% year-on-year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Air New Zealand (AIR, #21) shareholders have approved all resolutions at the company’s annual meeting, held in Auckland and virtually on 25 September 2025. Shareholders voted in favour of the re-election of Therese Walsh, with 97.77% of votes cast supporting the resolution and 2.23% against. Neal Barclay was elected to the Board with 99.83% of votes cast in favour and 0.17% against. Both resolutions were supported by the Board of Directors.

2 Cheap Cars Group Limited (2CC) shareholders have passed all resolutions at the company’s Annual Shareholder Meeting, held online today. Michael Stiassny and Gordon Shaw were both re-elected as Directors with 99.94% and 99.95% of votes cast in favour respectively. Shareholders also approved authorising the Board to fix the Auditor’s fees and expenses, with 99.96% support.

Tower (TWR, #40) has announced a new partnership with Westpac NZ to provide general insurance products to the bank’s retail customers from July 2026. Under the agreement, Tower will underwrite and supply house, contents, motor, and landlord insurance products to be offered under the Westpac brand, alongside a referral arrangement for Tower’s wider suite of products. Tower CEO Paul Johnston said the partnership will integrate data-driven insurance into Westpac’s digital banking channels, enabling customers to purchase, manage, and claim online while accessing Tower’s risk-based pricing and natural hazard information. 

Hallenstein Glasson Holdings (HLG, #42) has reported group sales of $470.7 mln for the year to 1 August 2025, up +8.1% from $435.6 mln year earlier. Gross margin held steady at 59.3%, while audited net profit after tax lifted +14.4% to $39.5 mln. Net profit before tax rose +12.1% to $58.4 mln. The group continues to focus on omni-channel integration and digital optimisation. The directors declared a final dividend of 30.5 cents per share, partially imputed at 56.5%, payable on the 12th of December.

The NZX (NZX, #46) advises that the foreign exchange rate to be applied for payment of its cash dividend in Australian dollars, where applicable, has been set at 0.8813

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