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 declined by -0.2%, down -1.4% month-on-month. Year-on-year it has gained +3.8%.
THE MAIN GAINERS
There were 26 gainers in the market today. Contact Energy (CEN, #5) gained +2%, up +3% month-on-month. Over the past six months it has gained +5%, up +2% year-on-year. Stride Property Group (SPG, #39) also gained +2%, down -3% over the last five days. Over the past six months it has gained +4%, down -3% year-on-year. Mercury Energy (MCY, #6) the same as the last two stocks gained +2%, down -2% month-on-month. Year-on-year Mercury's share price is up +1%. Investore Property Limited (IPL, #48) gained +1%, down -4% month-on-month. Year-on-year Investore has declined by -1%.
Contact Energy
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THE MAIN DECLINERS
There were 44 decliners led by Gentrack (GTK, #35) who declined by -7%. Over the past five days Gentrack's share price has now fallen by -12%, declining -47% year-on-year. Ryman Healthcare (RYM, #16) and Serko (SKO, #49) each dropped -4%. Ryman is down -8% over the last five days, down -34% year-on-year. From this time last year Ryman has declined -34%. Serko has declined -11% month-on-month, down -25% for the year. Mainfreight (MFT, #8) declined by -3%, down -8% month-on-month. Year-on-year Mainfreight has declined by -10%.
Gentrack
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | 0.0% | -1.2% | +4.6% | -2.5% | +2.2% |
| NZ Top 10 ETF (TNZ) | -0.5% | +0.2% | +2.1% | -1.4% | -4.3% |
| S/P NZX50 ETF (NZG) | 0.0% | -0.2% | +4.3% | -0.9% | +1.8% |
| NZ Dividend ETF (DIV) | +0.4% | +0.6% | +8.8% | -0.5% | +10.7% |
KEY ANNOUNCEMENTS
Synlait Milk says its half‑year result to 31 January 2026 will be very weak as the company continues its operational reset. The upcoming sale of its North Island assets on the 1st of April will be used to reduce debt and refocus operations on Canterbury. Synlait says manufacturing issues at Dunsandel have mostly been resolved, but the flow‑on costs, inventory rebuild and extra raw milk sales have significantly reduced margins, alongside softer commodity returns. The company expects underlying EBITDA between breakeven and $5mln, with a reported EBITDA loss of $28mln-$33mln and a reported net loss of $77mln-$82mln. An insurance claim is expected to recover part of the manufacturing‑related losses, and Synlait remains in discussions with its banking syndicate as it finalises its accounts.
The Warehouse Group has confirmed a leaner head office structure as part of its wider cost‑reset programme, including an expanded co‑sourcing partnership with Tata Consultancy Services to support functions such as technology, accounting, call centres and payroll. The restructure will see around 270 head office roles leave the business and will incur about $6mln in redundancy costs in FY26. The Group expects labour savings of $3-4mln in FY26, rising to around $17mln annually by FY31, delivering roughly $70mln in savings over the initial five‑year contract term, in addition to previously announced TCS‑related efficiencies. CEO Mark Stirton said the changes are necessary to return the business to sustainable profitability, with a broader update to be provided in the FY26 half‑year results on 27 March.
Air New Zealand (AIR, #21) has appointed Kate Boyer as Chief Operations Officer, Ground and Inflight, replacing Alex Marren, who retires at the end of March. Boyer joined the airline in 2022 and has led a strong turnaround in domestic airport operations, recently winning the Deloitte Young Executive award. From late March, Mike Williams will move into a new role as Chief Operations Officer, Technical Operations, overseeing engineering, maintenance and supply chain, while continuing to lead Alliances. CEO Nikhil Ravishankar said Boyer has delivered significant operational improvements and will be a strong addition to the executive team, and noted Williams’ experience will support the airline’s operational and strategic priorities.
Port of Tauranga (POT, #9) has appointed Ken Shirley to its Board of Directors, replacing long‑serving director Doug Leeder as Quayside Holdings’ appointee from 1 April. Shirley is a Bay of Plenty Regional Councillor and former MP who has held senior executive roles across several industry bodies, including the Road Transport Forum and Medicines New Zealand. Chair Julia Hoare said he brings extensive leadership and governance experience, and thanked Leeder for his decade of service and strong contribution to the Port and the Regional Council.
NZX50 Industrial Sector
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