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 is set to weaken today, falling -0.3% for the session, extending its five-day decline to -1.9%. The index remains down -3.3% over the past six months, although it continued to hold a modest +1.9% gain year-on-year as market sentiment remained cautious across the board.
THE MAIN GAINERS
There were 36 gainers on the equity board, led by Scales Corporation (SCL, #33), which rose +2% despite remaining down -3% over the last five trading sessions. Napier Port Holdings (NPH, #35) gained +1%, while Vista Group (VGL, #43) also lifted +1%, adding to its strong +13% one-month performance despite remaining sharply lower year-on-year. Vital Healthcare Property Trust (VHP, #22) edged +1% higher, although the stock remained slightly negative over the past 12 months.
Scales Corp
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THE MAIN DECLINERS
On the downside, 38 stocks declined, with a2 Milk (ATM, #8) leading losses, falling -4% and extending its declines to -22% over the last month and -30% across six months. Air New Zealand (AIR, #24) dropped -3% amid ongoing pressure from elevated fuel costs, while Summerset Group (SUM, #20) also lost -3%, continuing its weaker medium-term trend with a -40% six-month decline. Turners Automotive Group (TRA, #34) eased -2%, although the stock remains up +40% year-on-year.
A2 Milk
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.2% | -0.3% | -5.6% | -5.9% | -0.5% |
| NZ Top 10 ETF (TNZ) | +0.2% | -0.6% | -0.3% | -3.3% | -3.3% |
| S/P NZX50 ETF (NZG) | -0.3% | -1.1% | -4.3% | -3.9% | -0.9% |
| NZ Dividend ETF (DIV) | -0.2% | -0.5% | 0.0% | +1.6% | +15.9% |
KEY ANNOUNCEMENTS
Air New Zealand (AIR, #24) downgraded its FY26 outlook as elevated and volatile jet fuel prices following the Middle East conflict significantly increased operating costs, with expected second-half fuel expenses rising to approximately $980 mln from previous estimates of $740 mln. The airline said it had implemented targeted capacity reductions, fare increases, cost-saving measures and operational changes to mitigate the impact, while maintaining strong liquidity of around $1.3 bln and confirming no capital raising is currently being considered.
Sanford ( SAN, 37) reported a record interim result for HY26, with adjusted EBIT rising +20.3% to $65.0 mln and net profit after tax increasing +24.6% to a record $42.4 mln, despite revenue easing -5.5% to $270.2 mln. The company also announced a fully imputed interim dividend of 5.0 cents per share.
Synlait Milk (SML) confirmed it has accepted the resignation of Chief Executive Officer Richard Wyeth.
Mercury (MCY, 6) announced plans to expand its geothermal platform, committing $75 mln towards appraisal drilling at its Ngā Tamariki and Rotokawa sites near Taupō. The projects could represent up to $1 billion of investment and add approximately 1TWh of new renewable geothermal generation capacity, with first generation targeted for 2030.
NZX50 Energy Sector
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