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 is facing another consecutive decline, down -0.3%, bringing it to a -1.1% fall over the past five days. Over the past six months the index has gained +5.0% and is up +3.1% year‑on‑year.
THE MAIN GAINERS
The NZX equity market recorded 29 gainers today. Meridian Energy (MEL, #2) rose +3%, up +2% over five days but remains -1% lower year‑on‑year. Freightways (FRW, #19) and Kathmandu Brands (KMD, #50) each gained +2%. Freightways is up +5% month‑on‑month and +37% higher year‑on‑year, while Kathmandu has fallen -4% over the month and is down -37% annually. Vulcan Steel (VSL, #27) added +1%, up +7% for the month and +12% year‑on‑year.
Meridian Energy
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THE MAIN DECLINERS
There were 47 decliners across the board. Tourism Holdings (THL, #44) dropped -2%, down -8% over five days. a2 Milk (ATM, #7) also fell -2%, down -5% month‑on‑month but still +61% higher year‑on‑year. Summerset Group Holdings (SUM, #16) eased -2%, down -6% for the month and -6% annually. Heartland Group Holdings (HGH, #31) likewise declined -2%, though remains +30% higher over six months and +14% up year‑on‑year.
Tourism Holdings
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.5% | -0.4% | +6.2% | +2.8% | +4.2% |
| NZ Top 10 ETF (TNZ) | -0.3% | -1.0% | +0.2% | -7.9% | -5.7% |
| S/P NZX50 ETF (NZG) | +0.3% | -0.6% | +4.3% | -0.5% | +0.6% |
| NZ Dividend ETF (DIV) | +0.2% | -0.6% | +12.1% | +10.2% | +11.1% |
KEY ANNOUNCEMENTS
Fonterra Co‑op Group has lowered its forecast Farmgate Milk Price range for the 2025/26 season to $8.50–$9.50 per kgMS, down from $9.00-$10.00, with the midpoint reduced from $9.50 to $9.00 per kgMS. CEO Miles Hurrell said strong milk flows in New Zealand and globally, particularly from the US and Europe, continue to pressure commodity prices, while a rising New Zealand dollar since November has also weighed on the outlook. He noted the new midpoint remains within the season’s initial forecast range of $8.00-$11.00 per kgMS, and reaffirmed Fonterra’s focus on maximising shareholder returns through milk price, earnings, customer relationships, and operational efficiencies. Read more here: Fonterra cuts milk price forecast for second time in a month
Precinct Properties Group (PCT, #21) has confirmed settlement of its acquisition of the Downtown Car Park. The company said the facility will continue to operate as normal in the short term.
NZX50 Property Sector
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