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 edged lower by -0.1%, giving back a small portion of recent gains but remaining firmly positive across longer timeframes. The index has advanced +1.2% over the past five trading days, +4.9% over the past month, +0.8% over six months and +6.2% over the past year. The equity market was relatively balanced, with 38 stocks posting gains and 41 stocks finishing lower.
THE MAIN GAINERS
Leading the gainers was SkyCity Entertainment (SKC, #44), which rallied +6% on the day and has now surged +18% over the past week while returning to positive territory over one month at +1%, despite remaining down -35% over six months and -37% over the past year. a2 Milk (ATM, #9) climbed +4%, extending gains to +13% over five days and +5% over one month, although the stock remains down -28% over six months. Genesis Energy (GNE, #15) added +2%, building on gains of +7% over the past month, +12% over six months and +15% over the past year. Oceania Healthcare (OCA, #42) rose +1%, contributing to gains of +9% over five days, +13% over one month and +24% over the past year, despite remaining down -17% over six months.
SKYCITY Entertainment
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THE MAIN DECLINERS
Among the decliners, Investore Property (IPL, #48) led the falls with a -2% decline, leaving the stock down -10% over six months and -9% over the past year. Air New Zealand (AIR, #23) also slipped -2%, despite remaining up +6% over the past week and +11% over the past month, with the airline still down -23% over both six months and one year. Mainfreight (MFT, #7) fell -2%, adding to a -1% five-day decline, although the transport and logistics company remains up +19% over one month while down -5% over six months and -7% over the past year. Serko (SKO, #49) dropped -2%, but continues to hold gains of +6% over five days and +18% over one month, while remaining down -45% over six months and -41% over the past year.
Investore Property
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.2% | +1.6% | -3.1% | -5.5% | +2.1% |
| NZ Top 10 ETF (TNZ) | -0.7% | +1.4% | +1.5% | -1.0% | +1.0% |
| S/P NZX50 ETF (NZG) | +0.5% | +1.3% | -0.1% | -1.9% | +3.6% |
| NZ Dividend ETF (DIV) | +0.1% | +0.5% | +0.9% | -1.5% | +11.5% |
KEY ANNOUNCEMENTS
Fletcher Building (FBU, #14) has advised that it will withdraw its Moody’s credit rating as it progresses towards a simplified capital structure and expects net debt to be around the midpoint of its $400mln-$900mln target range by 30 June. The company expects FY26 EBIT of $375mln-$380mln, excluding discontinued operations and including around $40mln of property-related earnings. Fletcher also confirmed six recent divestments and property transactions are expected to deliver approximately $450mln of net cash proceeds, which will be used to reduce debt, while noting ongoing uncertainty from global geopolitical tensions and rising cost pressures that could impact activity levels in FY27.
Meridian Energy (MEL, #2) has confirmed it will release its financial results for the year ended 30 June on the 26th of August. The announcement provides investors with the timing of the company's full-year earnings update, which will include details on financial performance and outlook for the year ahead.
NZX50 Industrial Sector
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