Here are the key changes to know about in the New Zealand equity market; NZX 50 slips -0.1% as Investore Property, Napier Port, Genesis, and Summerset rise while Gentrack, Kathmandu, Meridian, and Mainfreight decline

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 slips -0.1% today, easing from its recent gains but leaving the benchmark +1.6% higher over the past five trading days. The index is down -0.2% over the past month, while it remains +7.4% higher over six months and +5.5% over the past year. The equity market remains positive, with 46 stocks gaining compared with 34 decliners. 

THE MAIN GAINERS
Among the gainers, Investore Property (IPL, #48) and Napier Port Holdings (NPH, #36) lead the market, each rising +3%. Napier Port continues its recent positive momentum, gaining +3% over five days, +4% over the past month and +5% over six months, although it remains down -19% over the past year. Investore Property is +1% higher over five days but remains down -2% over six months and -10% over the past year. Genesis Energy (GNE, #15) and Summerset Group (SUM, #19) both advance +2%, with Genesis Energy standing +19% higher over six months and +8% over the past year. Summerset is also +3% higher over five days, although it remains down -14% over six months and -26% over the past year. 

THE MAIN DECLINERS
Gentrack (GTK, #46) is the standout decliner, falling -7% and extending its decline over five days to -8%. The stock is also down -5% over the past month, -47% over six months and -62% over the past year. Kathmandu Brands (KMD, #50) falls -3%, trimming its five-day performance to -1%, although it remains +13% higher over the past month. Meridian Energy (MEL, #2) declines -2% but remains +1% higher over five days and six months, while Mainfreight (MFT, #7) slips -1% despite maintaining gains of +3% over five days, +15% over six months and +8% over the past year. 

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
AFC Group Holdings (AFC) says the Financial Markets Authority (FMA) has completed its review of the company’s FY26 going concern assessment and related disclosures. The FMA considers the evidence available when the financial statements were authorised did not sufficiently support preparing them on a going concern basis and says they should have been prepared on a non-going concern basis. AFC has provided the FMA’s letter to its Board and auditor and is assessing the accounting, audit and financial reporting implications, with the company to update the market if its review identifies any material financial impact or further action requiring disclosure.

Kathmandu Brands (KMD, #50) reports a stronger FY26 operating performance, with group sales rising +6.5% to $1.05 bln, gross margin improving to 57.7% and underlying EBITDA increasing +138% to $42 mln. Kathmandu sales rise +11.1%, while Rip Curl and Oboz sales each increase +3.8%, although the Group records a statutory NPAT loss of $414 mln following a $462 mln impairment expense. Net debt falls to $48 mln, while FY27 guidance targets revenue of $1.055-$1.075 bln and EBITDA of $52-$55 mln. Kathmandu says it remains focused on its Next Level turnaround strategy, while continuing preliminary discussions with a limited number of external parties following its business review, with no certainty that any transaction will result.

Argosy Property (ARG, #34) highlights continued resilience across its diversified property portfolio despite elevated geopolitical, economic and market uncertainty. The company says leasing activity has slowed and net effective rentals have eased slightly, with some excess capacity in Auckland industrial and Auckland and Wellington office markets, although these factors are largely reflected in current asset valuations. The portfolio has recorded further leasing gains across all three sectors, with particular momentum at 147 Lambton Quay in Wellington, supported by strong location, seismic and sustainability attributes. New leases include ECLY Limited for 12,077m² at 224A Neilson Street, Viatris for 5,871m² at 8–14 Mt Richmond Drive and Moore Markham Partnership for 989m² at 101 Carlton Gore Road, while several other tenants have also commenced or extended leases.

BurgerFuel Group (BFG) has partnered with SPCA to work towards the new SPCA Certified® Welfare Plus+ Standard for meat chickens, becoming the first New Zealand brand to join the initiative. The partnership builds on BurgerFuel’s move to 100% SPCA Certified free-range chicken in 2014 and will see the company work with SPCA and its chicken suppliers to support the implementation of higher-welfare requirements and the development of commercially viable farming practices.