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 moving towards another decline, down -0.4% for the day. The index remains under pressure across most timeframes, down -1.2% over the past five days, -0.2% over the past month, and -3.3% over the past six months. Despite recent weakness, the index remains +4.6% higher than a year ago.
THE MAIN GAINER
A total of four stocks posted gains during the session, led by Kathmandu Brands (KMD, #50), which rose +4%. Despite the daily gain, Kathmandu still declines -6% over five days, although it has rallied +33% over the past month. Vista Group (VGL, #40) gained +1%, while remaining down -12% over five days and -17% over six months. Air New Zealand (AIR, #23) also advanced +1%, although the airline remains down -5% over five days, -30% over six months and -29% over the past year. Napier Port Holdings (NPH, #35) added +1%, extending its gains to +1% over six months and +18% over the past year.
Kathmandu
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THE MAIN DECLINERS
Fletcher Building (FBU, #14) lead the group of 52 declines, falling -3%. The company remains down -2% over five days and +13% over six months, despite being up +5% over the past month. a2 Milk (ATM, #10) declined -2%, adding to losses of 20% over one month and 40% over six months, while remaining down -26% year-on-year. Serko (SKO, #49) also fell -2%, leaving the techn company down -6% over five days, -42% over six months and -45% over the past year. Spark (SPK, #13) was also among the day's weaker performers, down -2%, with the stock continuing to trade below levels seen six months and one year ago.
Fletcher Building
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.2% | -0.8% | -6.8% | -7.4% | +1.7% |
| NZ Top 10 ETF (TNZ) | -0.4% | -1.6% | -3.4% | -3.9% | -0.4% |
| S/P NZX50 ETF (NZG) | -0.1% | -1.3% | -4.1% | -4.5% | +2.2% |
| NZ Dividend ETF (DIV) | +0.2% | -0.7% | -1.3% | -2.1% | +14.8% |
KEY ANNOUNCEMENTS
Sanford (SAN, #37) has requested a trading halt after being advised that Ngāi Tahu Investments has launched a fully underwritten block trade to sell approximately 48.2% of its Sanford shareholding, equivalent to around 9.6% of Sanford's ordinary shares. The trading halt will remain in place until the start of trading on Friday, 5 June 2026, or until Sanford makes an earlier announcement regarding the outcome of the block trade.
The NZX (NZX, #45) reported mixed operating metrics for May, with total market capitalisation increasing +2.6% year-on-year to $240.6 bln and cash market trading value rising +7.2% to $4.6 bln. Total listed securities declined -2.1% to 322, while total capital listed and raised year-to-date fell -52.7% to $5.3 bln, reflecting a sharp reduction in new equity issuance. Trading activity remained strong, with total trades increasing +27% year-on-year, while the S&P/NZX 50 Gross Index finished the month +6.6% higher than a year earlier. NZX's funds management businesses also continued to grow, with total external funds under management rising +28.2% to $17.5 bln and funds under administration increasing +20.5% to $20.7 bln.
NZX50 Food Sector
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Click on the chart title to find more about this sector, including its components.
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