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 closed the trading week with a -0.5% decline, taking its five‑day fall to -0.7%. Despite the short‑term weakness, the index remains up +5.3% over six months and +4.7% year‑on‑year.
THE MAIN GAINERS
There were 33 gainers, led by Turners Automotive (TRA, #38) which rose +3%. Turners has gained +9% over the past month and +66% year‑on‑year. Kathmandu Brands (KMD, #50), Investore Property (IPL, #48) and Serko (SKO, #49) each added +2%. Kathmandu is up +2% over five days and +66% annually, Investore has gained 4% for the month and +11% year‑on‑year, while Serko remains down -10% month‑on‑month and -35% annually.
Turners
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THE MAIN DECLINERS
Declines outweighed gains, with 51 stocks lower. Oceania Healthcare (OCA, #43) fell -5%, though it is still up +22% over six months and down -3% year‑on‑year. Infratil (IFT, #4) dropped -4%, extending an -8% monthly and annual decline. Argosy Property (ARG, #30) and Summerset Group (SUM, #17) each eased -2%. Argosy is up +17% over six months and +14% year‑on‑year, while Summerset has gained +7% for the month but is down -5% annually.
Oceania Healthcare
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.9% | -0.9% | +5.3% | +3.6% | +3.9% |
| NZ Top 10 ETF (TNZ) | -1.4% | -2.2% | -0.5% | -6.6% | -4.8% |
| S/P NZX50 ETF (NZG) | -0.8% | -1.2% | +2.8% | +0.4% | +1.2% |
| NZ Dividend ETF (DIV) | -0.1% | -0.4% | +15.0% | +13.0% | +11.1% |
KEY ANNOUNCEMENTS
Oceania Healthcare (OCA, #43) delivered a sharply improved 1HY26 result, swinging to a reported NPAT of $4.9mln from a $17.1mln loss a year earlier, with proforma underlying EBITDA up +19.7% to $41.8 mln and underlying NPAT up +18.9% to $24.1 mln. Total comprehensive income rose to $40.4mln, supported by stronger sales conversion, cost efficiencies and fair value gains, while operating cash flow lifted +12.2% to $79 mln. Care EBITDA per bed surged +45.5% to $12.4k, and gearing reduced to 34.8% within target range. Sales volumes increased +5% to 271 units, including solid demand at The Helier and Franklin developments. The board reaffirmed its dividend policy but did not declare an interim payout, with payments expected to resume once free cash flow turns positive. Management said Oceania enters the second half with stronger cash generation, a leaner cost base and momentum to pursue disciplined growth.
Air New Zealand (AIR, #20) will cancel its on‑market share buyback programme at the close of trading on 25 November 2025. The buyback, launched in March 2025 for up to $100 mln, has returned $80mln to shareholders through the repurchase of around 133 mln shares. The airline said it expects to be within its liquidity target range by FY26 and will make no further purchases under the current programme, while continuing to manage capital under its framework and retain flexibility for future opportunities
Chorus (CNU, #13) has priced a €400 mln (NZ$821.7 mln) seven‑year Euro Medium Term Note issue carrying a 3.529% coupon and maturing 26 November 2032. Proceeds will refinance €300mln notes due December 2026 and support general corporate purposes, with a tender offer for the 2026 notes currently underway. The new notes, to be issued on 26 November , will be quoted on the ASX. COO Drew Davies said the transaction reflects strong European investor support and underpins Chorus’ strategy to become a simplified all‑fibre business with 80% uptake by 2030. Citigroup, HSBC and MUFG acted as joint lead managers.
Sky Network Television (SKT, #47) Chair outlined at the 2025 ASM that despite a challenging consumer environment and media sector shifts, the company delivered FY25 results within guidance, supported by strong cash generation and a final dividend of 13.5cps, lifting the full‑year payout 16%. Key achievements included completing satellite migration and securing a five‑year renewal of NZ Rugby rights, alongside Olympics, NZ Cricket and Formula One coverage. Sky also acquired Discovery NZ for a nominal sum, strengthening its advertising and digital revenues, with integration and synergies the focus for FY26. Shareholder returns totalled 36% in FY25, with dividend guidance reaffirmed at 30cps for FY26, equating to an 8.3% yield at current prices. The Board has paused further capital management actions post‑acquisition but remains confident in Sky’s cash generation and growth outlook.
Gentrack (GTK, #34) announced further momentum for its g2 billing and CRM platform, securing Pennon Water Services in the UK as its first water sector customer and completing a production go‑live at Genesis Energy (NZX/ASX: GNE). The Pennon deal extends Gentrack’s reach into more than 150,000 non‑residential accounts, while Genesis’ deployment supports its Gen35 strategy to simplify and automate retail operations. A Q1 2026 rollout is planned at ACEN Energy in the Philippines, with a strong pipeline of interest across EMEA and APAC. Built on AWS and integrated with Salesforce, g2 is designed to reduce cost‑to‑serve and enable rapid innovation, underpinning Gentrack’s strategy to become a leading provider of next‑generation utility platforms.
NZX50 Healthcare Sector
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