Here are the key changes to know about in the New Zealand equity market; NZX50 holds as Tourism Holdings, Gentrack, Skellerup and Tower gain while Kathmandu, Contact, Napier Port and Oceania retreat

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 marking time today, little-changed to yesterday's gains as the market settles into a more balanced session. Despite the modest situation, the benchmark remains +1.0% higher over the past five trading days and has strengthened +5.5% over the last month. The index is also +0.3% ahead over six months and sits +7.8% above its level this time last year.

THE MAIN GAINERS
A total of 37 companies finished in positive territory, led by Tourism Holdings (THL, #37), which rose +2% to extend its gains to +19% over one month, +16% across six months and +36% over the past year. Gentrack (GTK, #47) also climbed +2%, although the software company remains -1% over five days, -56% over six months and -69% year-on-year. Skellerup (SKL, #28) added +1%, continuing its strong momentum with gains of +12% over one month, +25% across six months and +36% over the past year. Tower (TWR, #40) advanced +1%, despite remaining -3% over one month and -11% over six months, while maintaining a +18% one-year return.

THE MAIN DECLINERS
The market also recorded 37 decliners, with Kathmandu Brands (KMD, #50) leading the losses after falling -2%, extending declines to -7% over both five days and one month, while remaining -60% across six months and -56% over the past year. Contact Energy (CEN, #5) eased -1%, leaving the stock -3% over one month but still +2% higher than a year ago. Napier Port Holdings (NPH, #36) slipped -1%, with the company down -1% over five days and -2% over six months, although it retains a +16% one-year gain. Oceania Healthcare (OCA, #44) also fell -1%, adding to declines of -1% over five days and one month, while remaining -19% over six months despite sitting +1% higher year-on-year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Summerset Group (SUM, #19) reported 448 occupation right sales in the second quarter of 2026, including 221 new sales and 227 resales, with resale volumes rising +26% from a year earlier. First-half sales increased +17% year-on-year, supported by strong demand across new village centre buildings and continued momentum at its St Johns village in Auckland. While the company has reduced its New Zealand build program by 50 homes in response to changing economic conditions, it remains on track to deliver 700-800 homes across New Zealand and Australia in FY2026 and will release its half-year results on the 27th of August.

a2 Milk (ATM, #7) says supply chain issues that disrupted China infant milk formula availability during the fourth quarter have now been largely resolved, with stock levels returning to target levels. While China label IMF sales fell around -14% in FY26 due to product shortages, the company expects to report revenue of approximately $1.97 bln, EBITDA margins at the top end of guidance, a slight increase in reported net profit after tax from FY25, and stronger-than-expected cash conversion. a2 Milk will release its audited FY26 results and FY27 outlook on the 17th of August.

AFT Pharmaceuticals (AFT) says it remains on track to achieve its FY27 revenue target of $300 mln, supported by strong first-quarter growth and a robust pipeline of new product launches. The company also reported progress in its research and development program, with its novel injectable iron treatment cleared to begin a global Phase III trial in the US and Japan, while securing an option agreement for a new injectable product targeting a market expected to exceed US$3 bln by 2032.

Kathmandu Brands (KMD, #50) has appointed Ian Morrice as an independent non-executive director, effective 20 August, as part of its ongoing Board renewal process. Mr Morrice brings more than 30 years of leadership experience across retail, consumer and wholesale sectors, including previous CEO roles at Metcash and The Warehouse Group. His expertise in business transformation, strategy and capital allocation will support KMD Brands as it continues to execute its Next Level strategy.

Channel Infrastructure (CHI, #24) has opened more than 120 million litres of new fuel storage capacity at Marsden Point, including 93 million litres of Government Diesel storage and an additional 30 million litres of jet fuel storage for Z Energy. The company said the projects strengthen New Zealand’s fuel supply resilience, with Channel now operating more than 400 million litres of tank capacity. Chief Executive Rob Buchanan highlighted the rapid delivery of the Government Diesel project, which was completed in nine weeks, and said the company has invested more than $165 mln in new storage and infrastructure projects as it develops its wider Energy Precinct ambitions in Northland.

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