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 begins the trading week weaker, declining -1.0%, extending its five-day decline to -2.9%. The index remained down -3.8% over the past six months, although it continues to hold a modest gain of +1.6% year-on-year as broader market sentiment stays cautious.
THE MAIN GAINERS
There were 35 gainers on the board, led by Air New Zealand (AIR, #23), which rose +3% despite remaining down -35% over the last six months. Tourism Holdings (THL, #44) gained +2%, continuing its stronger longer-term momentum with gains of +54% year-on-year. Scales Corporation (SCL, #33) and Vista Group (VSL, #31) both lifted +1%, with Vista maintaining strong recent momentum after climbing +14% over the past month.
Air New Zealand
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THE MAIN DECLINERS
On the downside, 53 stocks declined, led by a2 Milk (ATM, #9), which dropped -5%, extending losses to -21% over the last month and -34% across six months. Ryman Healthcare (RYM, #18) fell -4%, while Heartland Group Holdings (HGH, #29) and Mainfreight (MFT, #8) both declined -3%. Mainfreight remained under pressure over shorter trading periods, while Heartland continued to hold a solid +23% one-year gain despite recent weakness.
A2 Milk
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.3% | -0.6% | -5.8% | -6.7% | +0.1% |
| NZ Top 10 ETF (TNZ) | -0.2% | -1.2% | -3.2% | -4.7% | -3.2% |
| S/P NZX50 ETF (NZG) | -0.2% | -1.4% | -4.1% | -4.9% | -0.7% |
| NZ Dividend ETF (DIV) | -0.1% | +0.7% | +0.3% | +1.9% | +16.3% |
KEY ANNOUNCEMENTS
Kiwi Property (KPG, #21) reported FY26 net rental income of $202.4 mln, up +4.3%, while operating profit before tax increased +8.6% to $126.2 mln and adjusted funds from operations rose +8.0% to $100.2 mln. Net profit after tax declined -11.5% to $50.4 mln due to valuation movements, although occupancy improved to 99.0% and leasing momentum remained strong. Kiwi Property also confirmed a full-year dividend of 5.60 cents per share and provided FY27 dividend guidance of 5.75 cents per share.
Gentrack (GTK, #46) announced the acquisition of New Zealand energy software company Factor for an enterprise value of NZ$24 mln, with a potential NZ$10 mln earn-out tied to future revenue growth. Factor’s SaaS platform helps energy retailers manage pricing and forecasting in increasingly volatile electricity markets, and the business will be integrated into Gentrack’s g2 utilities platform to strengthen its B2B energy retail capabilities globally.
NZX50 Property Sector
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