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 NZX50 INDEX IS DOING
The NZX50 delivered one of its stronger recent sessions, climbing +0.7% as buyers returned to several of the market's heavyweight names. The move pushed the benchmark's annual gain out to +8.3%, while monthly performance improved to +4.1%. The index is +1.0% higher over the past week but down -0.2% over six months, highlighting a market that is still searching for sustained momentum. The movers were mixed, with 36 stocks gaining and 45 declining.
THE MAIN GAINERS
The standout performer was Tourism Holdings (THL, #42), which surged +14% and continued a remarkable recovery that has seen the stock gain +12% over five days, +34% over one month and +32% over the past year. Spark (SPK, #13) followed with a +6% jump, lifting its weekly performance into positive territory at +1%, although the telecommunications company remains down -6% over one month and -20% over the past year. F&P Healthcare (FPH, #1) gained +3%, extending its monthly advance to +15% while maintaining gains of +1% over five days and +6% over the past year. a2 Milk (ATM, #8) added +2%, continuing its strong recent run with a +27% gain over one month and a return to positive annual performance at +2%, despite remaining down -19% over six months.
Tourism Holdings
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THE MAIN DECLINERS
On the other side of the ledger, Kathmandu Brands (KMD, #50) led the declines with a -4% fall, leaving the stock down -5% over five days, -55% over six months and -53% over the past year despite still holding a +27% monthly gain. Serko (SKO, #49) dropped -3%, extending losses to -11% over both five days and one month, while remaining down more than 50% over both six months and one year. Scales Corp (SCL, #32) eased -2%, trimming some recent strength but continuing to hold gains of +3% over one month, +6% over six months and +29% over the past year. Summerset Group Holdings (SUM, #19) slipped -1%, with the retirement village operator now down -31% over six months and -23% over the past year, although it remains up +13% over the past month.
Kathmandu
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.6% | 0.0% | -4.3% | -4.9% | +3.7% |
| NZ Top 10 ETF (TNZ) | +0.9% | -0.1% | +0.7% | -0.3% | +4.9% |
| S/P NZX50 ETF (NZG) | +1.2% | -0.4% | -1.2% | -1.5% | +5.7% |
| NZ Dividend ETF (DIV) | +0.1% | -0.9% | -1.6% | -1.6% | +11.4% |
KEY ANNOUNCEMENTS
a2 Milk (ATM, #8) has declared a special dividend of $300 mln, equivalent to 41.36 cents per share, following regulatory approval to transition two China infant formula registrations acquired through the a2 Pokeno facility to a2-branded products. The dividend will be fully franked, with payment scheduled for July 24th, while shareholders must be on the register by the 9th of July to receive the payout. Chair Pip Greenwood said the special dividend reflects the company's commitment to returning capital to shareholders while maintaining a disciplined approach to capital management.
Tourism Holdings (THL, #42) has received a second non-binding indicative offer from a credible strategic buyer to acquire 100% of the company at a price of between $3.30 and $3.40 per share. The Board has granted the potential bidder access to conduct due diligence under a confidentiality agreement but emphasised that no decision has been made and there is no certainty a transaction will proceed. THL also confirmed it remains in discussions with the BGH Consortium regarding a confidentiality agreement that would allow it to begin due diligence as part of its own takeover proposal.
Goodman Property Trust (GMT, #16) has released its 2026 Annual Report, providing shareholders with an overview of the group's financial performance, sustainability initiatives, executive remuneration and climate-related disclosures. The report covers Goodman NZ, its stapled group entities and subsidiaries, including GNZ Bond Issuer Limited, and outlines the company's operations and governance activities during the 2026 financial year.
Channel Infrastructure (CHI, #24) has confirmed it will release its financial results for the six months ended 30 June (HY26) on the 28th of August. The company said the announcement will cover its half-year performance as New Zealand’s largest fuel import terminal operator, with full details to be provided alongside the results release.
NZX50 Tourism Sector
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