Here are the key changes to know about in the New Zealand equity market; NZX50 falls -1.5% as Stride Property, Serko, Investore and Kathmandu gain while Infratil, a2 Milk, Ryman and Scales lead the decliners

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 has retreated -1.5%, giving back much of Wednesday’s strong gains as selling pressure returned across the market. Despite the weaker session, the index is only down -0.2% over the past five trading days, +1.1% over the past month, +2.6% across the past six months and +7.1% over the past year. 

THE MAIN GAINERS
There were 32 gainers, led by Stride Property Group (SPG, #38), which climbed +3% on the day despite remaining down -2% over the past five days. The property company is up +5% over the past month but remains down -6% over six months and -3% over the past year. Serko (SKO, #49) also rose +3%, extending its five-day gain to +12%, although the stock remains down -51% over six months and -49% over the past year. Investore Property (IPL, #48) gained +2%, adding to a +1% rise over five days and a +6% gain over the past month, while remaining down -6% over the past year. Kathmandu Brands (KMD, #50) edged +1% higher, lifting its five-day gain to +4%, although the retailer remains down -3% over the past month, -56% over six months and -54% over the past year.

THE MAIN DECLINERS
There were 41 decliners, with Infratil (IFT, #2) leading the losses after falling -4%, extending its decline to -4% over the past five days and -4% over the past month, although the stock remains up +34% over six months and +23% over the past year. a2 Milk (ATM, #8) dropped -3%, leaving it down -7% over the past month while still holding a +14% gain over six months. Ryman Healthcare (RYM, #18) also fell -3%, adding to declines of -2% over both the past five days and month, with the retirement village operator down -21% over six months and -11% over the past year. Scales Corp (SCL, #32) eased -2%, extending its five-day decline to -1%, while remaining up +12% over the past six months and +37% over the past year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Freightways (FRW, #17) has confirmed David Gibson has been appointed Chair, following the resignation of Mark Cairns from the Board effective today. Cairns, who served as Chair for the past four years, was acknowledged for leading the company through a period of significant market volatility while overseeing Freightways' expansion in Australia through the Allied Express and VTFE acquisitions.

Precinct Properties (PCT, #20) has appointed Monica Yianakis as its new Future Director for an 18-month term beginning 1st of August. Yianakis brings more than 20 years of experience across strategy, marketing, innovation and commercial leadership roles with Nestlé, Frucor Suntory, Lion and Comvita. She succeeds Taurua Grant, who completed the Institute of Directors' Future Directors Programme after 18 months, with Precinct acknowledging his contributions to Board discussions, particularly his expertise in te ao Māori, financial markets and governance.

Fonterra has announced that farmer-elected director Brent Goldsack will retire from the Board at this year's Annual Meeting after completing his nine-year term. Chair Peter McBride acknowledged Goldsack's contribution to the co-operative, highlighting his leadership across several Board committees, including chairing the Capital Structure Committee and Co-operative Relations Committee. 

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