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 currently down -0.3%. Month-on-month it gained +1.5%, up +8.6% year-on-year.
THE MAIN GAINERS
There were 41 gainers across the board. Tourism Holdings (THL, #42) led the advances, rising +7%, although the stock remains down -4% over the past five trading sessions. Year-on-year, THL has gained +38%. Vista Group Limited (VGL, #48) climbed +5%, extending its five-day gain to +9%, though the stock remains down -50% compared with this time last year. Hallenstein Glassons (HLG, #44) added +4%, up +10% over the past week, lifting its year-on-year gain to +33%. Fletcher Building (FBU, #14) advanced +3%, despite being down -5% month-on-month, and is now up +3% year-on-year.
Tourism Holdings
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THE MAIN DECLINERS
Meanwhile, 40 decliners left the index marginally lower. Vulcan Steel (VSL, #30) eased -2%, though it remains up +6% over the past six months, and down -3% year-on-year. Auckland International Airport (AIA, #2) fell -2%, retaining a +9% month-on-month gain and a +10% lift year-on-year. Argosy Property (ARG, #32) also declined -2%, slipping -3% over the past month, while maintaining a +13% annual gain. Infratil (IFT, #4) edged down -1%, leaving the stock up +5% year-on-year.
Vulcan Steel Limited
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.6% | +0.9% | +1.5% | -1.6% | +5.2% |
| NZ Top 10 ETF (TNZ) | +0.8% | +1.4% | +3.8% | +2.2% | +4.9% |
| S/P NZX50 ETF (NZG) | +0.5% | +0.7% | +3.4% | +1.0% | +6.3% |
| NZ Dividend ETF (DIV) | +0.6% | -0.5% | +3.1% | -0.9% | +15.1% |
KEY ANNOUNCEMENTS
The NZX will welcome Tāiko Critical Minerals Ltd to the NZX Main Board on Thursday the 5th of March, with trading set to commence at 10:00am NZT under the ticker code TCM. The West Coast-based company plans to extract ilmenite, garnet, zircon and critical mineral concentrate from the Barrytown Flats near Greymouth, supplying materials used in renewable energy infrastructure, electric vehicle batteries and other high-tech applications. The project has an initial resource base supporting an estimated mine life of more than 20 years and is backed by local iwi Ngāti Waewae. Development of the mine and associated mineral separation plant is expected to create approximately 135 direct mining and processing roles, along with a further 189 support jobs, contributing to the regional economy.
Synlait Milk (SML) has announced the resignation of Charles Fergusson, Director On-Farm Excellence, Business Sustainability and Corporate Affairs, effective on the 31st of May. Chief Executive Richard Wyeth acknowledged Fergusson’s contribution to the business, noting his leadership in securing the company’s milk supply last year and his close engagement with Synlait’s farmer suppliers since joining in 2023. Fergusson is departing to pursue a new opportunity.
Fletcher Building (FBU, #14) has announced that its subsidiary, Higgins Contractors, has formally signed the East Waikato, Bay of Plenty and Hawke’s Bay Integrated Delivery Contracts with New Zealand Transport Agency Waka Kotahi for state highway maintenance services, each commencing in April 2026 for a 10-year term. Higgins was previously named preferred contractor for the contracts in December 2025. The company noted that, following its binding agreement announced in January 2026 to sell its Construction Division to VINCI Construction, the final purchase price remains subject to potential adjustment pending the outcome of key divisional contract negotiations, including the execution of these IDCs, with any impact to be advised separately. Managing Director and Chief Executive Andrew Reding described securing the contracts as a significant milestone, providing a strong long-term platform for the Higgins business and the wider Construction division.
Genesis Energy (GNE, #16) has confirmed that the Australian dollar offer price for its fully underwritten 1 for 7.9 pro rata renounceable Rights Offer has been set at A$1.73 per share, with the capital raising expected to generate approximately NZ$300 mln. The A$ price was determined using an NZD/AUD exchange rate of 0.84305.
NZX50 Industrial Sector
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