Here are the key changes to know about in the New Zealand equity market; NZX50 down -0.9% with minor gains from Channel Infrastructure, SkyTV, Ryman, AirNZ, and Turners, and declines from Synlait, Fletcher, Kathmandu, Stride Property, and Argosy

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 a -0.9% decline today, weighed down by broader global market jitters following tariff threats from Trump late last week. Despite the dip, the index remains +1.0% higher month-on-month and has gained +4.5% year-on-year.

THE MAIN GAINERS
Only 25 stocks posted gains, while 67 declined. Among the gainers, Sky Network Television (SKT, #48), Mercury Energy (MCY, #5), Mainfreight (MFT, #8), and Turners Automotive (TRA, #40) each rose +1%. Sky has climbed +10% over the past month and is up +25% year-on-year. Mercury has eased -2% over five days and is down -1% annually. Mainfreight is up +5% over six months but remains -17% lower year-on-year. Turners Automotive continues its strong run, gaining +4% for the month and +57% over the year.

THE MAIN DECLINERS
On the downside, Fletcher Building (FBU, #14) led losses, falling -5% today and -10% over the past five sessions, though it remains +2% higher year-on-year. Kathmandu Brands (KMD, #50) dropped -3%, despite a +21% monthly gain, and is down -41% annually. Stride Property Group (SPG, #35) also fell -3%, though it’s up +31% over six months and +5% year-on-year. Argosy Property (ARG, #29) matched the -3% decline, but has gained +5% for the month and +15% over the past year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Fletcher Building (FBU, #14) released its Q1 FY26 sales volume update, highlighting continued pressure on trading volumes and margins amid subdued market conditions. Light Building Products volumes were mixed, with Comfortech and Iplex NZ posting growth, while Australian operations showed improvement versus Q4. Heavy Building Materials saw notable declines, particularly in Winstone Aggregates, though steel volumes edged higher. Distribution volumes were steady, but margins contracted, and Residential delivered 88 units to profit, down slightly from 90 a year earlier. Management has launched a NZ$100mln cost-out programme, targeting NZ$50mln in savings in H2 FY26 and full benefits by FY27. The Group expects market conditions to remain challenging, but recent OCR cuts may support housing liquidity, with signs of stabilisation emerging in Australia.

Precinct Properties (PCT, #20) has launched a $310 mln equity raise to support its growth pipeline, comprising a fully underwritten $285 mln placement and a $25 mln share purchase plan (SPP). Proceeds will initially repay bank debt and fund development opportunities, including a newly announced $201 mln, 638-bed student accommodation project at 256 Queen Street, Auckland. The raise will also support capital partnering and liquidity management, reducing pro forma gearing from 41.6% to 33.2%. Precinct reaffirmed its FY26 dividend guidance of 6.75 cps and updated its funds from operations (FFO) guidance to 7.30–7.50 cps. The placement is priced at $1.23 per stapled share, with settlement on the 17th of October. The SPP opens to eligible NZ shareholders with applications closing 28 October and allotment on 4 November.

ANZ Bank (ANZ) has unveiled its 2030 Strategy, outlining three core priorities for the next five years: delivering for customers, simplifying the bank, and driving growth and returns. The strategy will be executed across its Australia Retail, Institutional, and New Zealand divisions, with a focus on improving customer experience, leveraging technology, and fostering a performance-driven culture. Incoming CEO Nuno Matos emphasised ANZ’s commitment to long-term resilience, simplicity, and value creation for shareholders in a back-to-basics approach.

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