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 trading flat today with gains of +1.4% over five days and +4.9% over the past month. While the benchmark remains down -0.3% over six months, it has delivered a solid +5.5% return over the past year. Market movement was evenly balanced, with 39 stocks advancing and 38 declining across the day.
THE MAIN GAINERS
Leading the gainers was SkyCity Entertainment Group (SKC, #41), which surged +11% during the session, building on an +11% gain over the past week despite remaining down -3% over one month and -37% over the past year. The stock was followed by Channel Infrastructure (CHI, #24), which rose +2% on the day, adding to a +16% six-month gain and a +46% increase over the past year. Precinct Properties (PCT, #20) also advanced +2%, extending gains to +5% over five days and +4% over one month, while Contact Energy (CEN, #6) added +1%, contributing to gains of +3% over six months and +5% over the past year despite a -2% monthly decline.
SKYCITY Entertainment
Select chart tabs
THE MAIN DECLINERS
On the downside, EBOS Group (EBO, #11) led the decliners, falling -3% on the day and extending losses to -26% over six months and -44% over the past year despite remaining up +1% over the past month. Spark (SPK, #13) also dropped -3%, with the telecommunications provider now down -5% over one month, -18% over six months and -19% over the past year. Napier Port Holdings (NPH, #36) eased -2%, adding to a -1% weekly decline and a -4% six-month retreat, although the stock remains +15% higher year-on-year. Gentrack (GTK, #45) fell -2%, extending declines to -4% over five days, -6% over one month, -56% over six months and -68% over the past year.
EBOS Group
Select chart tabs
SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.2% | +1.7% | -3.7% | -5.5% | +2.1% |
| NZ Top 10 ETF (TNZ) | +0.5% | +0.7% | -0.3% | -0.8% | +1.7% |
| S/P NZX50 ETF (NZG) | +0.4% | +1.6% | -1.5% | -2.3% | +2.9% |
| NZ Dividend ETF (DIV) | +0.2% | +1.6% | +1.1% | -1.2% | +11.8% |
KEY ANNOUNCEMENTS
Contact Energy (CEN, #6) reported stronger operational performance in May, with mass market electricity and gas sales rising to 461GWh from 365GWh a year earlier and mass market netback improving to $148.13/MWh. Wholesale electricity sales increased to 1,027GWh from 768GWh, while generation volumes rose to 1,034GWh from 842GWh. Generation costs continued to improve, with unit generation costs falling to $37.11/MWh from $49.26/MWh and own generation costs declining to $24.31/MWh from $42.27/MWh. Hydrology conditions remained favourable, with South Island controlled storage at 120% of average levels and North Island storage at 149% of average. Contact also reaffirmed progress across its renewable development pipeline, including the Kōwhai Park Solar, Te Mihi Stage 2 geothermal, Glenbrook-Ohurua Battery 2 and Glorit Solar projects, representing more than $1.5 bln of investment currently under construction.
Meridian Energy (MEL, #2) has secured Environment Court approval to continue operating the Waitaki Power Scheme for a further 35 years, providing long-term certainty for one of New Zealand’s most significant electricity generation assets. The Waitaki scheme comprises six hydro stations with installed capacity of 1,553MW, representing almost 30% of the country’s hydro generation capacity. Meridian said the decision allows it to retain existing storage levels, operating conditions and generation capacity, while also supporting future investigations into additional storage and generation opportunities within the scheme. The company will now implement the new consent conditions, including expanded indigenous biodiversity management initiatives across the Waitaki catchment.
Infratil (IFT, #3) has announced executive leadership changes aimed at supporting the company's continued growth and increasing global scale, with Chief Financial Officer Andrew Carroll appointed to the newly created role of Chief Operating Officer. Carroll will oversee execution and capital allocation priorities across the portfolio while retaining responsibility for capital management. Deputy Chief Financial Officer Matt Ross, who has been with Infratil for more than 16 years, will succeed Carroll as Chief Financial Officer. Chief Executive Jason Boyes said the appointments are designed to strengthen portfolio oversight, maintain capital discipline and support the long-term performance of Infratil’s expanding infrastructure investments.
Precinct Properties (PCT, #20) has agreed to sell a 50% interest in PwC Tower in Auckland and form a new investment partnership with PAG, valuing the asset at $600mln. The transaction is consistent with its capital recycling strategy, with Precinct retaining a significant stake and continuing as investment and asset manager under a market fee arrangement. Proceeds will initially be used to repay bank debt, with pro forma gearing expected to fall to 24% as at 31 December 2025, subject to settlement in H1 FY27 and OIO approval.
NZX50 Energy Sector
Select chart tabs
Click on the chart title to find more about this sector, including its components.
We welcome your comments below. If you are not already registered, please register to comment
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.