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 modest -0.3% decline today, though it has gained +0.9% over the past five days. Year-to-date, the index is up +4.0%, and has advanced +7.4% on an annual basis.
THE MAIN GAINERS
There were 35 gainers on the equity board, led by Fletcher Building (FBU, #14), which rose +3%. The stock is up +8% over the past six months and +14% year-on-year. Vista Group (VGL, #40) added +2%, though remains down -13% for the month and -6% year-on-year. Sky Network Television (SKT, #47) and Meridian Energy (MEL, #2) both gained +1%. Sky Network is up +9% month-on-month, while Meridian has risen +2% for the month and the same over the year.
Fletcher Building
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THE MAIN DECLINERS
There were 47 decliners, though losses were modest, with the four largest down -2%. Goodman Property Trust (GMT, #15) is down -8% for the month but up +2% year-on-year. Kathmandu Brands (KMD) has fallen -5% over the past five days and -39% over the year. Vector (VCT, #11) remains a standout, up +24% over six months and +30% year-on-year. Gentrack (GTK, #33) has declined -10% this month and is down -11% on an annual basis.
Goodman Property Trust
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.4% | +0.9% | +10.5% | +5.5% | +6.6% |
| NZ Top 10 ETF (TNZ) | +0.7% | +2.3% | +4.1% | -3.8% | -0.5% |
| S/P NZX50 ETF (NZG) | +0.04% | +1.9% | +8.5% | +3.1% | +4.7% |
| NZ Dividend ETF (DIV) | -0.7% | +1.1% | +22.1% | +15.7% | +14.7% |
KEY ANNOUNCEMENTS
Vital Healthcare Property Trust (VHP, #23) reported a first-quarter distribution of 2.4375 cents per unit, reaffirming FY26 guidance of 9.75cpu. AFFO for the quarter was 2.82cpu, supported by +5.0% growth in net property income. Development milestones included the completion of Boulcott Hospital, Endoscopy Auckland, and Wakefield Hospital Stage 2a, lifting portfolio occupancy to 99% and extending WALE to 19.1 years. Asset sales, including Toronto Private Hospital and a 50% stake in Kawarau Park, generated ~$100m for debt repayment. Vital units closed at $2.23 on 30 September 2025, delivering a 12-month total return of 25.8% versus 14.9% for the S&P/NZX All Real Estate Index. The committed development pipeline now stands at $201.3mln, with $19.6mln remaining spend, including projects at Grace Hospital and RDX on the Gold Coast.
Restaurant Brands (RBD) has confirmed that Finaccess Restauración, S.L. has received sufficient acceptances to its NZ$5.05 per share takeover offer to exceed 90% ownership, triggering its right under the Takeovers Code to compulsorily acquire remaining shares. The offer closes at 11.59pm on 25 November 2025, and shareholders who accept will be paid within five working days, while those who wait may face up to 40 working days for compulsory acquisition. The Independent Directors recommend shareholders accept the offer promptly. RBD expects NZX and ASX to suspend and delist its shares shortly after Finaccess initiates the formal acquisition process.
NZX50 Healthcare Sector
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