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 rises +0.4% today, extending its five‑day gain to +1.5%. The index is now up +9.6% over six months and +8.1% year‑on‑year.
THE MAIN GAINERS
Heartland Group Holdings (HGH, #32) led the 49 gainers, advancing +3%. The lender is up +3% over the past month and +10% on an annual basis. Fletcher Building (FBU, #14) and Vital Healthcare Property (VHP, #23) each added +2%. Fletcher has gained +6% in the past month and +11% year‑on‑year, while Vital is up +1% over six months and +14% annually, though down -3% month‑on‑month. Air New Zealand (AIR, #21) lifted +1%, flat for the month but +15% higher than a year ago.
Heartland Group Holdings
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THE MAIN DECLINERS
Among 32 decliners, Spark (SPK, #12) and Kathmandu Brands (KMD, #50) both fell -2%. Spark is up +1% for the month but remains -19% lower year‑on‑year. Kathmandu has slipped -3% in the past five days and is down -37% annually. Freightways (FRW, #19) and Mainfreight (MFT, #8) each eased -1%. Freightways has gained +6% in the past week and +39% over the year, while Mainfreight is down -5% in six months and -14% year‑on‑year.
Spark
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.7% | +1.4% | +10.6% | +5.9% | +7.7% |
| NZ Top 10 ETF (TNZ) | +0.9% | +2.1% | +4.3% | -4.1% | -0.8% |
| S/P NZX50 ETF (NZG) | +1.0% | +1.4% | +8.5% | +3.0% | +5.5% |
| NZ Dividend ETF (DIV) | +0.2% | +1.3% | +23.9% | +16.4% | +15.3% |
KEY ANNOUNCEMENTS
SkyCity Entertainment Group (SKC, #37) has formally taken possession of the New Zealand International Convention Centre (NZICC) from Fletcher Construction. Located in Auckland’s CBD, the NZICC is set to become the country’s largest and most versatile conference, exhibition, and entertainment venue, with capacity for up to 4,000 attendees. Chief Executive Jason Walbridge described the handover as a major milestone, noting the centre will create more than 300 jobs and deliver significant benefits to tourism, hospitality, and local suppliers. Tourism and Hospitality Minister Louise Upston said the venue will boost visitor numbers and showcase New Zealand on the global stage. More than 100 events are already confirmed for 2026, including major Australasian medical conferences. The NZICC will officially open in February 2026, carrying the New Zealand FernMark as part of its branding.
Being AI Limited (BAI) has announced a proposed sale of its remaining business unit, Send Global Limited, to Wilshire Treasury Limited following a strategic review aimed at stabilising BAI’s financial position. As at 31 October, Send Global carried debt of $9.3mln to ANZ and $3.8mln to Wilshire, and while the business continues to perform, its projected contributions are insufficient to offset group overheads and debt costs. Wilshire, which holds ~86% of BAI’s shares and is a key lender and guarantor, has made a conditional offer valued at NZ$8.79mln, comprising the offset of BAI’s outstanding loan to Wilshire and a NZ$202,000 cash payment. A committee of independent directors, supported by Simmons Corporate Finance, concluded the offer aligns with independent valuation and represents the most pragmatic solution given BAI’s financial position. The transaction, which is subject to shareholder approval and ANZ’s consent, is expected to settle in late 2025, after which BAI intends to remain listed on the NZX while seeking new acquisition opportunities.
Michael Hill International Limited (MHJ) has appointed Elodie Guillaumond as Chief Financial Officer, effective 2 February 2026. Guillaumond brings more than 20 years of finance leadership experience across listed and private sector organisations, including senior roles at Ampol Australia, Amart Furniture, Coles Supermarkets, and British American Tobacco, where she led major transformation and strategic initiatives. CEO Jonathan Waecker said her expertise in disciplined financial management, operational efficiency, and sustainable margin growth will be invaluable as the company focuses on building a stronger, more profitable business, while Chair Rob Fyfe noted her governance depth and commercial judgement align with the board’s priorities and will make her a key partner to the leadership team.
NZX50 Tourism Sector
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