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 up +0.4%, up +3.2% over the last five day period. Year-on-year it gains +7.5%.
THE MAIN GAINERS
There were 31 gainers today, led by NZX50 heavyweight Fisher & Paykel Healthcare (FPH, #1), which rose +3%. Over the past five sessions, FPH has climbed a strong +12%, lifting its year-on-year performance to a +16% gain. Sanford (SAN, #39) increased 2%, extending its five-day rise to 6%, with the stock now up 73% year-on-year. Channel Infrastructure (CHI, #30) also gained 2%, though it remains down 2% month-on-month, while posting a 42% year-on-year increase. Tourism Holdings (THL, #44) rose 2%, recording a sharp 20% gain over the past five days and a 48% lift year-on-year.
Fisher and Paykel Healthcare
Select chart tabs
THE MAIN DECLINERS
A total of 40 stocks declined during the session. Genesis Energy (GNE, #16) fell -3%, down -4% over the past five days but still up +4% year-on-year. Chorus (CNU, #12) dropped -2%, despite gaining +4% across the past week and rising +12% year-on-year. Serko (SKO, #49) also declined -2%, extending a significant -30% month-on-month fall and leaving the stock down -43% year-on-year. Investore Property Limited (IPL, #47) slipped -2%, down -4% over the month and -1% lower year-on-year.
Genesis Energy
Select chart tabs
SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.1% | +1.8% | +1.3% | -2.8% | +3.9% |
| NZ Top 10 ETF (TNZ) | +1.0% | +4.7% | +1.5% | +0.5% | +3.1% |
| S/P NZX50 ETF (NZG) | +0.7% | +3.3% | +2.0% | -0.3% | +4.9% |
| NZ Dividend ETF (DIV) | -0.3% | +0.6% | +3.0% | -1.8% | +14.1% |
KEY ANNOUNCEMENTS
Synlait Milk Limited (SML) has advised that it will release its half-year results for the six months ending on the 31st of January on Monday, the 23rd of March.
Vulcan Steel (VSL, #29) reported mixed first-half FY26 results, with revenue increasing +8.6% to $535.4 mln, supported by the acquisition of Roofing Industries, while EBITDA declined slightly by -1.1% to $56.3 mln and net profit after tax attributable to shareholders fell -9.3% to $8.3 mln. Excluding significant items, adjusted EBITDA and NPAT were $57.3 mln and $9.3 mln respectively, while operating cash flow dropped to $38.7 mln. The company declared a fully franked and fully imputed interim dividend of 2.5 cents per share. Management noted improving volumes late in the period despite ongoing margin pressure amid mixed economic conditions in New Zealand and Australia, and expects gradual market recovery through FY26, supported by lower interest rates and continued investment in processing capability and network expansion.
Property for Industry Limited (PFI, #27) reported a strong interim result for the six months to 31 December 2025, with profit after tax rising to $46.9 mln from $28.8 mln a year earlier, supported by rental growth, valuation gains, and near-full portfolio occupancy of 99.9%. Funds From Operations increased +32.2% to 6.40 cents per share, while Adjusted FFO rose +23.9% to 5.39 cents per share, with interim dividends of 4.40 cents per share declared. Net rental income lifted +20.6% to $62.6 mln, and property revaluations delivered fair value gains of $17.1 mln, contributing to net tangible assets increasing to $2.88 per share. The company maintained a solid balance sheet with gearing at 34.2% and continued progress across its development pipeline, while lifting FY26 dividend guidance to at least 9.05 cents per share, reflecting confidence in ongoing earnings momentum and embedded rental growth across the portfolio.
Mercury Energy (MCY, #6) has reported strong HY results with EBITDAF rising +28% year-on-year to $537 mln, supported by above-average hydro generation and lower operating costs driven by ongoing productivity initiatives. Net profit after tax reached $20 mln, an $87 mln improvement on HY25, reflecting higher earnings partially offset by movements in unrealised electricity derivative valuations. The company declared an interim dividend of 10 cents per share, up +4%, while maintaining full-year dividend guidance of 25 cents per share and EBITDAF guidance of around $1.0 bln. Mercury continued significant investment in renewable generation, reinvesting roughly half of HY26 earnings into projects including the Ngā Tamariki geothermal expansion and the Kaiwera Downs and Kaiwaikawe wind farms, as it progresses toward its target of adding 3.5TWh of new generation capacity by 2030 while maintaining a strong balance sheet and disciplined cost management.
Genesis Energy (GNE, #16) has successfully completed the placement component of its NZ$400 mln equity raising, securing NZ$100 mln through a fully subscribed underwritten placement priced at NZ$2.15 per share. Chief Executive Malcolm Johns said the placement received strong demand from existing shareholders, including the Crown alongside new institutional investors, reflecting confidence in Genesis’ Gen35 strategy aimed at expanding renewable generation capacity and strengthening dispatchable firming assets to support long-term growth and electricity market security. Settlement of the placement is expected on the 26th of February for ASX participants and the 27th for NZX.
NZX50 Energy Sector
Select chart tabs
Click on the chart title to find more about this sector, including its components.
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.