Here are the key changes to know about in the New Zealand equity market; NZX50 edges higher to close the week off as AirNZ, Mainfreight, Genesis and EBOS rise while Kathmandu, A2 Milk, Tourism Holdings and Freightways weaken

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 gearing towards a gain to finish the final trading session of the week modestly higher, gaining +0.3%. Despite the positive close, the index remains down -0.5% over the past five trading days although it has improved +0.8% over the past month, is down -2.6% over six months, and remains up +4.5% over the past year.

THE MAIN GAINERS
A total of 33 stocks advanced, led by Air New Zealand (AIR, #23), which rose +2% despite remaining down -3% over five days and -28% over the past year. Mainfreight (MFT, #7) also gained +2%, lifting its one-month performance to +8% while limiting its six-month decline to -5%. Genesis Energy (GNE, #16) climbed +2%, extending gains to +6% over five days, +9% over one month and +20% over the past year. Ebos Group (EBO, #12) added +2%, although the stock remains down -9% over one month, -29% over six months and -48% over the past year.

THE MAIN DECLINERS
Declines outnumbered gains, with 38 stocks finishing lower. Kathmandu Holdings (KMD, #50) was the weakest performer, falling -3% to extend losses to -13% over five days and -56% over the past year. A2 Milk (ATM, #10) eased -2%, with the stock now down -23% over one month, -41% over six months and -29% over the year. Tourism Holdings (THL, #44) slipped -2% despite remaining up +20% over one month and +86% over the past year. Freightways (FRW, #17) also declined -2%, though it continues to hold gains of +5% over one month and +25% over the past 12 months.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Meridian Energy (MEL, #3) has welcomed a draft decision from the Fast-track Panel to ease access restrictions on Lake Pūkaki hydro storage for a three-year period. The proposal would allow Meridian greater flexibility to access contingent water storage before electricity shortage risks reach critical levels, while the company has voluntarily committed to maintaining restrictions on half of the contingent storage for the remainder of 2026 given favourable hydro conditions and stakeholder concerns. The draft decision also grants approval for permanent rock armouring at Pūkaki Dam to improve resilience against wave erosion. A final decision from the Panel is expected by the 3rd of July.

Infratil (IFT, #2) has completed its capital bond offer, allocating the full $200 mln available, including $50 mln of oversubscriptions, following a successful bookbuild process. The unsecured, subordinated capital bonds will carry an initial interest rate of 5.50% per annum until the first reset date in June 2032. The bonds are scheduled to be issued on the 15th of June and are expected to begin trading on the NZX Debt Market under the ticker IFT380 on June 16.

Ryman Healthcare (RYM, #18) says FY26 marked a significant turning point, with improved profitability, stronger cash generation and a reset balance sheet supporting a refreshed long-term strategy. Operating EBITDAF nearly doubled to $88.3 mln, free cash flow improved to $188.3 mln from an outflow of $94.2 mln a year earlier, and the company delivered $57 mln in annualised cost savings over the past two years. Ryman has shifted its focus from rapid development-led growth to maximising returns from its existing portfolio, while targeting a return to sustainable dividends in FY28 supported by a strengthened balance sheet, more than $600 mln in available debt headroom and no bank debt maturities until FY31.

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