Here are the key changes to know about in the New Zealand equity market; Mixed Day on the NZX50: Kathmandu, Oceania, Property for Industry, and Summerset lead gainers, Gentrack, Vital Healthcare, F&P Healthcare, and Tourism Holdings lead decliners

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 jumped +0.6% after today's big OCR cut, though it remains up +1.3% over the past five days. Over the last six months the index has gained +14.5%, and it sits +8.5% higher year-on-year.

THE MAIN GAINERS
There were 54 gainers in the market. The standout was Kathmandu Holdings (KMD, #50), which jumped +5% today and is up +11% over the past month, though still down -40% year-on-year. Oceania Healthcare (OCA, #45) and Property for Industry (PFI, #25) both rose +3%. Oceania has gained a strong +10% over the past five days but is down -5% year-on-year. Property for Industry has lifted +4% over the past five days and is up +20% year-on-year. Summerset Group Holdings (SUM, #17) advanced +2% today, up +7% over the past five days, though down -5% year-on-year.

THE MAIN DECLINERS
On the downside, there were 29 decliners. The sharpest fall came from Gentrack (GTK, #31), down -3% today, -8% over the past five days, and -18% year-on-year. Vital Healthcare Property (VHP, #23) slipped -2%, though it remains up +5% for the month and +17% year-on-year. Fisher & Paykel Healthcare (FPH, #1) eased -1%, but is still up +12% over the past six months and +7% year-on-year. Tourism Holdings (THL, #42) also fell -1%, though it has gained +8% for the month and an impressive +51% year-on-year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Infratil’s (IFT, #4) Sydney Investor Day highlighted its strategy to focus on digital and renewable energy growth while simplifying its portfolio, with divestments such as RetireAustralia and a review of Qscan supporting a NZ$1bln recycling programme aimed at reinvestment into high‑conviction assets like CDC and Gurīn Energy. CDC confirmed 100MW of new contracted capacity and plans for its first Western Australian data centre, underscoring surging demand from hyperscale and AI customers. Longroad Energy reported extended US tax credit eligibility and rising electricity demand, with its 1000 Mile solar project in Texas set to supply Meta and cut emissions significantly. Gurīn Energy outlined a pipeline of 8GW of Asian renewables, including the transformational Vanda Solar and Battery Project, while One NZ emphasised steady performance, AI‑driven innovation, and sustainability recognition. Wellington Airport, meanwhile, unveiled a new terminal artwork as international passenger numbers rose, with Qantas boosting summer capacity and a new MoU with Guangzhou Baiyun International Airport opening the door to expanded China links.

Briscoe Group (BGP, #47) reported resilient trading for the first half of 2025, with sales revenue of $371.3mln, just below last year’s record, and NPAT of $29.3mln versus $33.2mln in the prior period, reflecting margin pressures and higher costs. Despite a mixed environment, with Q1 impacted by weather and promotions before a Q2 rebound, the Group maintained momentum through disciplined inventory management, targeted promotions, and investment in digital platforms and store upgrades, including a new Rebel Sport flagship. Gross margin eased to 41.4% from 43.0%, while inventory levels remained steady at $106mln. The balance sheet stayed strong with $119.8mln in cash, down from $131.8mln a year earlier, as $14.9mln was invested in strategic projects, including $10.4mln towards a new distribution centre on track for April 2026 completion.

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