Here are the key changes to know about in the New Zealand equity market; The gainers are led by Vulcan Steel, Vector, Napier Port and F&P Healthcare while the big decliners include Heartland, Tourism Holdings, a2 Milk and Investore

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 trading down -0.3% today, extending its month-on-month decline to -0.8%. On an annual basis the index remains in the green, up +2.6% year-on-year.

THE MAIN GAINERS
There were 34 gainers on the board today, led by Vulcan Steel (VSL, #28), which rose +3% and is up +21% over the past six months. Year-on-year, Vulcan’s share price has gained +4%. The next three largest movers each added +1%. Vector (VCT, #11) is down -3% for the month but up +24% over the year. Napier Port Holdings (NPH, #39) has risen +5% month-on-month, +17% over the past six months, and a strong +47% year-on-year. Fisher & Paykel Healthcare (FPH, #1) is up +3% over six months but has eased -2% annually.

THE MAIN DECLINERS
On the decliners side, 50 stocks fell, though losses were relatively minor, with Heartland Group Holdings (HGH, #33), Tourism Holdings (THL, #45), a2 Milk (ATM, #7), and Investore Property Limited (IPL, #48) each down -2%. Heartland has gained +41% over six months and +13% year-on-year. Tourism Holdings has surged +89% over six months and +26% annually. a2 Milk is up +28% over six months and +72% year-on-year, while Investore is down -6% month-on-month but up +3% annually.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Synlait Milk Limited (SML) has appointed Richard Hickson as Chief Operating Officer, effective February 2026. Hickson brings over 20 years of leadership experience in global dairy and infant nutrition, most recently serving as CEO of AusNutria B.V. in the Netherlands. His previous roles include COO at Westland Milk Products, GM at Oceania Dairy, and senior positions at Fonterra and PepsiCo. Synlait also announced two further executive changes: Abby Ye, Director of Foodservice & President China, will now report to newly appointed Chief Revenue Officer Hamish Yates, while Hila Mory’s role has been updated to Chief Quality Officer, reporting directly to CEO Richard Wyeth.

TradeWindow (TWL) has confirmed its admission to the Official List of ASX Limited, subject to settlement of its recent A$5 mln (NZ$5.8 mln) capital raise. Approval of the raise will be considered at a special shareholders’ meeting on the 10th of December. The ASX listing marks a key milestone in TradeWindow’s growth strategy, broadening its capital base and improving liquidity for investors across New Zealand and Australia.

SkyCity Entertainment Group Limited (SKC, #34) has announced that the New Zealand International Convention Centre (NZICC) will officially open on the 11th of February. The venue already has more than 100 events confirmed for its inaugural year, positioning the NZICC as a major investment in New Zealand’s future by creating jobs, supporting local businesses, and enhancing Auckland’s global event profile. CEO Jason Walbridge highlighted the centre’s role in elevating Auckland’s capabilities, while NZICC General Manager Prue Daly noted a series of opening celebrations, including a dawn blessing, live concert, public open day, and a showcase of the centre’s facilities. Located in Auckland’s city centre, the NZICC will launch with a diverse programme of international and domestic conferences, concerts, and exhibitions.

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