Here are the key changes to know about in the New Zealand equity market; Mainfreight, Chorus, Oceania, and Kathmandu leads today's gains, Goodman, Skellerup, SkyTV, and Investore 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 has edged up +0.4% so far today, extending gains to +2.3% for the month and +7.2% year-on-year.

THE MAIN GAINERS
On the Main Board, 39 gainers were recorded. Mainfreight (MFT, #8) led the market following its half-year results, advancing +6%. Despite today’s strength, the company remains -5% lower over six months and -14% down year-on-year. Chorus (CNU, #13), Oceania Healthcare (OCA, #43), and Kathmandu Brands (KMD, #50) each rose +2%. Chorus has added +2% over the past five days and is +10% higher year-on-year. Oceania Healthcare gained +9% for the month and +5% year-on-year, while Kathmandu Brands slipped -5% over the month and is -34% lower on an annual basis.

THE MAIN DECLINERS
Decliners were nearly balanced, with 37 stocks easing, each by -2%. Notable movers included Goodman Property Trust (GMT, #15), Skellerup (SKL, #31), Sky Network Television (SKT, #47), and Investore Property (IPL, #48). Goodman Property Trust fell -11% for the month and -4% year-on-year. Skellerup remains resilient, +6% higher for the month and +12% year-on-year. Sky Network Television has surged +43% over six months and +36% year-on-year, while Investore Property is +10% higher over six months and +4% year-on-year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Kiwi Property (KPG, #22) has entered a conditional agreement with Costco Wholesale to sell 6.4 hectares of land at its Drury development, enabling the establishment of New Zealand’s second Costco store. The site, located at the southern end of Kiwi Property’s 53-hectare landholding adjacent to State Highway 1, represents a milestone in the Drury programme. The transaction remains subject to planning and corporate approvals, with Costco aiming to serve its growing membership base across South Auckland, Hamilton, and the Waikato region.

Chorus (CNU, #13) has announced an investor roadshow commencing 13 November under its Euro Medium Term Note (EMTN) Programme dated 31 October. The company is also launching a tender offer for its existing €300 mln 0.875% senior notes due December. Subject to market conditions, Chorus may follow with a Euro-denominated 7-year fixed rate transaction.

Mainfreight (MFT, #8) reported unaudited half-year results to 30 September with group revenue up +2.1% to NZ$2.61 bln, while profit before tax fell 18.3% to NZ$131.7 mln and net profit declined 18.5% to NZ$93.4 mln; operating cash flows improved to NZ$209.6 mln, net debt rose to NZ$68.7 mln, and capital expenditure reached NZ$102.7 mln, including NZ$67 mln on property, with further developments underway in New Zealand, Australia, and Europe; divisional performance showed revenue growth in Transport (+7.0%) and Warehousing (+6.7%) but weaker profitability, while Air & Ocean revenue fell -5.0% with PBT down -20.9%; regionally, New Zealand and Australia delivered modest revenue growth but lower margins, Europe saw higher revenue but sharply reduced PBT, Asia was impacted by lower freight rates, and the Americas recorded a PBT loss; the Directors declared an interim dividend of 85 cents per share, payable 19 December, with the company expecting improvement in New Zealand, Australia, and Europe, gradual recovery in the Americas, and stable trading in Asia.

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