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 -0.4% decline today, though remains +1.4% higher for the month, +12.6% over six months, and +4.0% year-on-year.
THE MAIN GAINERS
There were 48 gainers, led by Investore Property (IPL, #47), Argosy Property (ARG, #29), and Property for Industry (PFI, #26), each up +2%. IPL is flat over five days and down -1% year-on-year. Argosy gained +4% for the month and +13% annually, while PFI rose +20% in six months and is also +13% higher year-on-year. Hallenstein Glassons (HLG, #42) added +1%, down -1% over five days, but remains up a strong +31% year-on-year.
Investore Property
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THE MAIN DECLINERS
Among the 41 decliners, Gentrack (GTK, #33) led with a -3% fall, extending its -13% monthly and -14% annual declines. Scales Corp (SCL, #35) slipped -2%, though it remains +12% higher for the month and +55% year-on-year. Vulcan Steel (VSL, #27) also dropped -2%, down -3% over five days and -9% year-on-year. Serko (SKO, #49) matched the -2% decline, down -4% over five days and -7% annually.
Gentrack
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.1% | +0.3% | +12.7% | +4.0% | +4.0% |
| NZ Top 10 ETF (TNZ) | -0.3% | +0.6% | -6.4% | -6.4% | -5.1% |
| S/P NZX50 ETF (NZG) | +0.03% | +0.5% | +0.7% | +0.7% | +0.7% |
| NZ Dividend ETF (DIV) | -0.4% | -0.1% | +12.9% | +12.9% | +10.1% |
KEY ANNOUNCEMENTS
Air New Zealand (AIR, #21) now expects a 1H FY26 loss before tax of $30mln–$55mln, vs prior guidance of break even. The downgrade reflects weaker than expected bookings (–$50mln impact), higher engine lease costs (+$20mln), and increased CORSIA fuel obligations (+$10mln). Between 9 and 11 aircraft remain grounded, with compensation talks ongoing. The airline cautioned against extrapolating first-half results, noting capacity growth planned for 2H FY26.
Michael Hill International reported FY25 revenue of $644mln and EBIT of $15.3mln, broadly flat on the prior year, with gross margin steady at 60.5% despite record gold prices and heavy promotional activity. Cost pressures from labour and occupancy were partly offset by second half savings, while inventory closed at $199mln and net debt at $42mln. Store changes included two new Michael Hill openings, two Bevilles conversions, and 14 closures, leaving 287 stores. Strategic priorities focused on brand repositioning, margin recovery, Bevilles growth, and AI adoption, alongside a trial consignment stock model. In the first 16 weeks of FY26, gross margin improved +100bps, with same-store sales flat overall. Australia up +0.7%, Canada up +4.1%, and New Zealand down -6.2%, while total sales fell -1.3% on a smaller store base.
NZX50 Tourism Sector
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Click on the chart title to find more about this sector, including its components.
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