Here are the key changes to know about in the New Zealand equity market; NZX50 remains under pressure as Ryman, SkyTV, Summerset, and Precinct top the gainers, while Gentrack, Kathmandu, Tourism Holdings, and SkyCity casino are the big losers

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 NZX50 continues to decline down -0.4%, declining by -1.4% over the last five days. In the last six-months it has fallen -3.6%, now at a gain of +7.8% year-on-year.

THE MAIN GAINERS
A total of 39 stocks gained across the equity market, led by Ryman Healthcare Limited (RYM, #18), which climbed +3%, extending its five-day gain to +3%, although it remains down -23% over six months and -7% annually. Sky Television (SKT, #46) also rose +3%, with the stock holding a strong +31% year-on-year gain. Summerset Group (SUM, #19) added +2%, despite remaining down -25% year-on-year, while Precinct Properties (PCT, #20) gained +1%, though it continues to track lower across the medium periods.

THE MAIN DECLINERS
Decliners slightly outnumbered gainers at 40, led by Gentrack (GTK, #39), which fell -3%, leaving the stock down -32% over six months and -45% year-on-year. Kathmandu Brands (KMD, #50) also dropped -3%, extending its steep annual decline to -70%. Tourism Holdings (THL, #44) declined -2%, though it still holds a strong +44% year-on-year gain, while SkyCity Entertainment (SKC, #35) also eased -2%, with the stock now down -36% annually.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Genesis Energy (GNE, #16) has reported a strong Q3 FY26 operating performance and upgraded its FY26 normalised EBITDAF guidance to $515 mln–$545 mln, from the previous $490 mln–$520 mln range. The result was supported by favourable hydrology, with hydro generation rising significantly to 745GWh and national lake levels sitting at 117% of average, while thermal generation fell sharply as Genesis optimised fuel use and redirected available gas to higher-value industrial customers. Electricity netback improved to $173/MWh despite lower customer numbers and softer sales volumes, reflecting the company’s continued focus on margin quality over volume.

Heartland Group Holdings (HGH, #27) has provided a positive Q3 2026 trading update, confirming it remains on track to deliver an underlying return on equity of at least 7% and underlying net profit after tax of at least $85 mln for FY2026. The group reported further net interest margin expansion, improved asset quality, and a lower overall cost-to-income ratio, supported by strong performances in reverse mortgages across both New Zealand and Australia, alongside solid growth in its rural portfolio. Motor Finance and Asset Finance also returned to growth during the quarter, while the reduction of non-strategic assets continued to free up capital. Heartland noted that while performance remains strong, it is closely monitoring uncertainty in the Gulf region and potential impacts on customer demand, funding costs, and credit quality across both markets.

Vector (VCT, #10) delivered steady electricity network growth for the nine months ended 31 March, with total electricity connections rising +1.5% year-on-year to 639,473, new connections up +2.0% to 9,670, and electricity volumes distributed increasing +2.0% to 6,575GWh, supported by stronger commercial and industrial demand and cooler winter conditions. Residential electricity volumes lifted +1.0% while business volumes rose +2.7%. In contrast, the gas distribution network softened, with total gas customers down -0.3% to 120,222, new gas connections falling -50.0% to 554, and gas volumes declining -2.3% to 8.6PJ.

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