Here are the key changes to know about in the New Zealand equity market; NZX50 slips -0.1% as Tourism Holdings, Vulcan Steel, Investore Property and Kathmandu rise while Gentrack, Serko, a2 Milk and Napier Port 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 currently down less than -0.1%, easing after recent gains despite broad market support. The index remains up +1.0% over the past five days, +2.4% over the past month, +2.3% over six months and +7.5% year-on-year.

THE MAIN GAINERS
A total of 42 companies finished higher, led by Tourism Holdings (THL, #37), which climbed +2% on the day to extend its gains to +2% over five days, +14% over one month, +9% over six months and +42% over the past year. Vulcan Steel (VSL, #33) also rose +2%, lifting its five-day gain to +5% and monthly return to +7%, although it remains down -24% over six months and -7% year-on-year. Investore Property (IPL, #48) gained +2%, improving to +6% over the past month despite remaining -3% over six months and -8% over the year. Kathmandu Brands (KMD, #50) added +1% and is up +1% over five days, although the retailer remains down -97% over one month and -98% across both the six-month and one-year periods.

THE MAIN DECLINERS
There were 35 decliners, with Gentrack (GTK, #47) falling -3%, extending losses to -5% over five days, -4% over one month, -56% over six months and -68% over the past year. Serko (SKO, #49) shed -2%, taking its declines to -4% over five days, -16% over one month, -56% over six months and -55% year-on-year. a2 Milk (ATM, #7) dropped -2%, leaving it down -1% over the past month, -14% over six months and -2% over the year. Napier Port Holdings (NPH, #36) also eased -2%, adding to a -2% five-day decline, while remaining up +1% over one month but down -2% over six months and ahead +14% year-on-year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Spark (SPK, #14) has appointed Tommy Bjorkberg as its new Chief Operating Officer, effective 1 October. Bjorkberg joins from Dutch telecommunications company KPN, where he serves as Vice President Network and Cloud, bringing more than 25 years of international telecommunications and technology leadership experience.

Mercury (MCY, #11) has invested US$30 mln (NZ$53 mln) for a 12.7% minority stake in Datagrid NZ, supporting the development of a 360MW data centre project in Southland that is expected to drive long-term renewable electricity demand. The investment, funded through existing capital facilities, follows Mercury's 140MW power purchase option agreement signed with Datagrid in March. Mercury CEO Stew Hamilton has also joined Datagrid NZ's board, with the company saying the investment strengthens its position alongside a major future electricity customer while supporting investment in new renewable generation projects.

Genesis Energy (GNE, #10) reported a solid fourth-quarter performance, with electricity netback rising +11.6% year-on-year to $189/MWh as the company continued transitioning to a single brand and simplified product offering. Total customer numbers fell -5.8% to 490,227 and electricity sales declined to 1,543GWh, reflecting the brand consolidation and warmer-than-expected weather. Hydro storage strengthened through the quarter, thermal generation fell as higher hydro output reduced market demand, and Genesis expects FY26 EBITDAF to be at the lower end of its April guidance. The company also confirmed progress on its FY32 Growth Plan, including the Huntly battery energy storage project, large-scale solar developments and digital transformation initiatives.

Tourism Holdings (THL, #37) expects FY26 underlying net profit after tax from continuing operations to come in at around $46 mln, ahead of previous guidance of $40 mln to $43 mln. The improved result was driven by favourable year-end interest outcomes, stronger late booking momentum across key markets and vehicle sales in New Zealand performing at the upper end of expectations. Net debt at 30 June was $436 mln, below the previously forecast $460 million to $470 mln range, while normalised net debt of $453 mln remained broadly in line with expectations.

Contact Energy (CEN, #12) has announced the appointment of Alison Barrass as an independent director, effective 1 September. Barrass brings extensive governance and executive experience, including previous leadership roles across sales, marketing and operations, along with current board positions at Suncorp’s New Zealand insurance businesses, Precinct Properties and Summerset Group Holdings. 

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