Here are the key changes to know about in the New Zealand equity market; gainers include Turners, a2 Milk, Meridian and Mercury; decliners are led by Gentrack, Serko, Oceania and Sanford

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 index has gained a minor +0.1% today, up +5.9% over the last six months. Year-on-year it has gained +5.0%.

THE MAIN GAINERS
The NZX50 recorded 31 gainers today. Turners Automotive (TRA, #39) rose +2%, extending its momentum with a sharp +20% month-on-month gain and +48% year-on-year. a2 Milk (ATM, #7) also added +2%, up +3% over the past five days and +66% annually. Meridian Energy (MEL, #2) lifted +2% but remains down -7% month-on-month and -2% year-on-year. Mercury Energy (MCY, #6) gained +1%, easing -3% for the month but up +11% year-on-year.

THE MAIN DECLINERS
On the downside, 51 stocks declined. Gentrack (GTK, #33) fell -3%, extending its five-day loss to -11% and down -36% year-on-year. Serko (SKO, #49) also dropped -3%, though it remains +20% higher month-on-month, while still down -22% annually. Oceania Healthcare (OCA, #42) slipped -3%, despite a +9% monthly gain and +24% year-on-year rise. Sanford (SAN, #41) eased -2% today but is up +16% month-on-month and a strong +73% annually.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Contact Energy (CEN, #5) reported November mass market electricity and gas sales of 319GWh with netback of $138.75/MWh, while wholesale contracted sales reached 845GWh and generation rose to 1,014GWh at a unit cost of $39.62/MWh. Otahuhu Q1 2026 futures settled at $148/MWh on 11 December, South Island storage stood at 157% of mean, North Island at 129%, and Clutha scheme storage at 125% with inflows at 137% of mean. Contracted gas volume for the next 12 months is 9.2PJ, and renewable projects under construction include Glenbrook-Ohurua BESS ($163m, Q1 CY26), Kowhai Park Solar ($273m, Q2 CY26, JV with Lightsource bp), and Te Mihi Stage 2 geothermal ($712m, Q3 CY27).

Meridian Energy (MEL, #2) reported strong operating metrics for November, with national hydro storage rising to 153% of average by the 8th of December, including South Island at 157% and North Island at 132%. Monthly inflows were 149% of average, contributing to year-to-date inflows at 150%. The highest since 1988/89. Waitaki catchment storage ended November at 172% of average, Waiau at 161%, and snow storage in Waitaki was 110% of average in early December. November was the warmest on record, with rainfall above average across much of the North Island and western South Island, while eastern South Island remained dry. National electricity demand rose +5.9% year-on-year, NZAS average load increased to 569MW from 451MW, and Meridian’s retail sales volumes lifted +12.1% year-on-year, with residential up +23.2%, agriculture up +18.4%, and gains across all other customer segments.

SkyCity Entertainment Group (SKC, #34) has announced the resignation of Chief Risk Officer Carolyn Kidd, effective the 31st of January. CEO Jason Walbridge acknowledged her leadership in strengthening risk capability across host responsibility, financial crime, and enterprise risk management in New Zealand and South Australia. SkyCity reaffirmed its commitment to its long-term risk transformation programme and thanked Carolyn for her positive impact.

Air New Zealand (AIR, #20) will announce its 2026 Interim Results before NZX trading opens on Thursday the 26th of Feb. A conference call for investors and analysts will be hosted by CEO Nikhil Ravishankar and CFO Richard Thomson at 10:00am NZST on the same day, with access available via webcast and telephone. A replay will be available through the Investor Centre on Air New Zealand’s website.

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