Here are the key changes to know about in the New Zealand equity market; NZX50 rises +0.3%, Kathmandu, Scales, Serko, and Mainfreight lead the gainers, while Meridian, Fletcher, Vital Healthcare, and Mainfreight are the main 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 is on a minor rebound today, rising +0.3%, though it remains down -1.9% over the past five days but is up +3.7% year‑on‑year.

THE MAIN GAINERS
There were 59 gainers driving the market higher, led by Kathmandu Holdings (KMD, #50) which surged +7%. Despite today’s jump, Kathmandu is down -2% over six months and -34% year‑on‑year. Scales Corp (SCL, #36) gained +5%, lifting +2% over the past five days and up a strong +60% year‑on‑year. Serko (SKO, #49) and Mainfreight (MFT, #8) both advanced +3%. Serko is down -7% over six months but up +7% year‑on‑year, while Mainfreight has risen +9% over six months but remains -14% lower year‑on‑year.

THE MAIN DECLINERS
On the downside, 28 stocks declined. Meridian Energy (MEL, #2) led the fallers, down -2%, though it is still up +1% year‑to‑date and year‑on‑year. Fletcher Building (FBU, #14), Vital Healthcare Property (VHP, #23), and Air New Zealand (AIR, #21) each eased -1%. Vital Healthcare remains up +29% over six months and +12% year‑on‑year, while Air New Zealand is down -2% year‑to‑date but up +11% compared to last year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
In September 2025, Auckland Airport (AIA, #3) total international passenger movements reached 830,000, up +3% on the prior year and +5% higher excluding transits, with seat capacity also up +3% and average load factors easing 0.4 points to 84%. Short‑haul international traffic rose +5% with stable load factors, while long‑haul fell -1% on 1% more capacity, reducing load factors to 83%. Earlier school holidays contributed to a +6% lift in New Zealand nationals travelling during the month. Domestic passenger movements increased +7% on 4% more capacity, lifting load factors 2.2 points to 86%, with trunk routes up +9% and load factors improving to 87%. Queenstown Airport saw international passengers rise +8% and domestic passengers climb +12% year‑on‑year.

Scales Corporation (SCL, #36) has lifted its FY25 earnings guidance, now expecting Underlying NPAT attributable to shareholders of $54–59mln, up from the prior $51–56mln range. The revised outlook implies Underlying EBITDA of $125–132mln and Underlying NPAT of $69–74mln. Managing Director Andy Borland said the upgrade reflects continued strong performance across the Group despite ongoing geopolitical uncertainties.

Precinct Properties Group (PCT, #20) has opened a $25mln non‑underwritten share purchase plan (SPP), with the ability to accept oversubscriptions, as part of its $310mln equity raise announced on 13 October. The move follows the successful completion of a fully subscribed $285mln placement at $1.23 per stapled share, a 7.5% discount to the last close, with settlement and trading due on 17 October. Under the SPP, eligible New Zealand shareholders can apply for up to $50,000 of new stapled shares, priced at the lower of the placement price or a 2.5% discount to the five‑day VWAP at closing. The new shares will rank equally with existing stapled shares on issue.

Smartshares Limited has appointed Jon Raby to its Board of Directors, effective 1 October 2025. Raby, who retired as CFO of New Zealand’s second‑largest bank in 2023, brings more than 25 years’ senior leadership experience across major financial services companies in New Zealand and Australia. His background spans banking, funds management, securities broking, property management and insurance, with extensive expertise in large, complex and highly regulated businesses.

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