Here are the key changes to know about in the New Zealand equity market; NZX 50 drops -0.4% as Oceania leads gains over Mainfreight, Ryman and Stride. Vector, Port of Tauranga, Fletcher and Infratil are the main 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 NZX 50 falls -0.4%, as decliners outnumbered gainers 42 to 36 in another weak session. The index is up +0.1% over the past five trading days, while remaining up +1.6% over the past month, +4.8% over six months and +3.0% year-on-year.

THE MAIN GAINERS
Oceania Healthcare (OCA, #46) led the gainers, rising +3% on the day and over the past five trading days. However, the aged-care operator remains down -4% over the past month, -7% over six months and -12% over the past year. Mainfreight (MFT, #7) gained +2%, extending its advance to +3% over the month and +15% over six months, while sitting +8% higher year-on-year. Ryman Healthcare (RYM, #19) also rose +2%, with a +1% five-day gain failing to offset declines of -6% over the month, -16% over six months and -38% over the year. Stride Property Group (SPG, #42) added +1%, although its longer-term performance remained weaker, with the stock down -10% over six months and -24% year-on-year. 

THE MAIN DECLINERS
Vector (VCT, #10) was the biggest decliner, falling -3% and extending its five-day loss to -1%. Despite a +5% gain over the past month, the electricity and gas infrastructure company remains down -5% over six months and- 7% year-on-year. Port of Tauranga (POT, #9) shed -2%, leaving it down -1% over five trading days, although it remains up +4% over the month and year-on-year, and +1% over six months. Fletcher Building (FBU, #13) also fell -2%, taking its five-day decline to -4% and its monthly loss to -11%. The building products and construction group remains up +10% over six months and +4% year-on-year. Infratil (IFT, #4) dropped -2%, extending its declines to -2% over five trading days and -5% over the month, but remains ahead +7% over six months and +8% year-on-year. 

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Contact Energy (CEN, #6) reported higher mass-market electricity and gas sales in September, rising to 484GWh from 372GWh a year earlier, although the average revenue earned from these sales fell slightly. Wholesale electricity sales were broadly steady at 978GWh, while total electricity generated or acquired fell to 1,069GWh from 1,106GWh. The cost of generating or acquiring electricity declined to $37.83/MWh from $48.79/MWh, while the cost of Contact’s own generation remained largely unchanged at $27.57/MWh. Wholesale electricity prices for the first quarter of 2027 have continued to rise, with the Otahuhu futures price reaching $115.50/MWh on 13 October, up from $102.25/MWh at the end of September. South Island hydro storage was strong at 135% of its historical average, while North Island storage was lower at 78%; storage across the Clutha scheme stood at 81% of average. Inflows into Contact’s Clutha catchment were 123% of average in September, down from 164% in August. Contact has 8.5 petajoules of contracted gas available for the next 12 months and continues to invest in new energy generation and storage projects, including the $712 million Te Mihi Stage 2 geothermal project, the $235 million Glenbrook-Ohurua Battery 2 project and the $316 mln Glorit Solar project, with completion expected between 2027 and 2028.

Rua Bioscience (RUA) has appointed Curaleaf Laboratories as its UK sales and distribution partner for its New Zealand-grown medicinal cannabis products. Curaleaf brings established manufacturing, pharmacy and clinical capabilities, along with access to prescribers, clinics and pharmacies across the UK. The agreement supports Rua’s international growth strategy by providing an established route into the UK market without requiring significant investment in its own local infrastructure. The partnership builds on Rua’s existing European presence and combines its Tairāwhiti-grown products and genetics with Curaleaf’s established market reach.

Fletcher Building (FBU, #13) has welcomed Fast Track approval for Winstone Aggregates’ Hunua Quarry expansion, which will provide access to approximately 225 million tonnes of greywacke and support quarry operations for more than 50 years. The approval allows the existing quarry to be expanded and deepened, securing a long-term source of aggregate for Auckland’s infrastructure, housing and commercial development. Fletcher Building said the consents include conditions that it is committed to meeting, and it will continue engaging with mana whenua, neighbouring landowners and the local community as the project progresses.