Here are the key changes to know about in the New Zealand equity market; Heartland, Gentrack, Kathmandu, and Genesis lead Monday gains while Vista Group, Chorus, Serko and Infratil retreat

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 ease -0.5% today, giving back some recent gains but remains up +1.6% over the past five trading days and +6.9% over the past year. The index has continued to recover from its six-month decline, now down -2.4%.

THE MAIN GAINERS
A total of 42 stocks finished higher, led by Heartland Group Holdings (HGH, #28), which surged 10% on the day, extending its five-day gain to 12%, its one-month advance to 11%, and its annual return to 64%. Gentrack Group (GTK, #47) climbed 9%, building on a 5% rise over the past week, although the stock remained down 34% over one month and 67% over the past year. KMD Brands (KMD, #50) gained 2%, adding to its strong 15% five-day rally and 42% one-month recovery, despite remaining 47% lower over six months and down 51% year-on-year. Genesis Energy (GNE, #16) also advanced 2%, lifting its one-month gain to 5%, six-month return to 9%, and annual performance to 14%.

THE MAIN DECLINERS
A total of 48 stocks closed lower, with Vista Group International (VGL, #40) leading declines, falling -4% for the day. Despite the pullback, VGL remains up +31% over the past month, although it was still down -9% over six months and -30% over the past year. Chorus (CNU, #11) declined -3%, extending its five-day loss to -5% and one-month decline to -7%, while remaining up +4% over six months and +15% year-on-year. Serko (SKO, #49) also fell -3%, taking its six-month loss to -39% and annual decline to -43%, despite a modest +4% gain over the past month. Infratil (IFT, #2) shed -3%, trimming its one-month gain to +19%, while remaining up +31% over six months and +48% over the past year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Infratil (IFT, #2) announced the launch of an offer of up to $150 mln of unsecured, subordinated Capital Bonds, with the ability to accept oversubscriptions. The 31-year bonds mature in June 2057 and carry an initial interest rate of at least 5.50% per annum, with the final rate to be set following a bookbuild process on 5 June. The bonds have a BBB- issue credit rating from S&P and provide Infratil with long-term funding flexibility.

Heartland Group Holdings (HGH, #28) announced it has entered into a conditional merger implementation agreement with Toi Foundation to combine Heartland Bank and TSB Bank. The proposed transaction would create a larger New Zealand challenger bank with greater scale, enhanced competitiveness and a strong regional focus. You can find more info here: Heartland eyes $620m TSB purchase to create 'challenger bank of scale with a regional focus'

Stride Property Group (SPG, #39) announced a series of board changes, with long-serving Chair Tim Storey retiring as Chair and Director of Stride Investment Management Limited (SIML) and Stride Property Limited (SPL). David Green, who joined the boards in June 2025, has been appointed independent Chair, bringing extensive experience in governance, banking and funds management. The company also appointed Hsueh Ling Ng as an independent non-executive director, adding more than 30 years of real estate investment and funds management expertise across the Asia-Pacific region. Stride noted that following the appointments, both boards will remain fully comprised of independent non-executive directors.

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