Here are the key changes to know about in the New Zealand equity market; NZX 50 opens the week -0.6% lower as Tourism Holdings, a2 Milk, Ryman and Investore advance while Infratil, Skellerup, SkyCity and Chorus 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 NZX 50 is down -0.6%, extending its weakness into the new trading week. The benchmark is down -1.1% over the past five trading days and -1.0% over the past month, although it remains up +5.9% over six months and +2.5% year-on-year. Market breadth was relatively balanced, with 44 stocks gaining against 40 decliners, but a sharp loss in Infratil weighed on the session. 

THE MAIN GAINERS
Tourism Holdings (THL, #41) led the gainers, rising +3% to extend its five-day gain to +1%. The tourism operator is up +30% over six months and +11% year-on-year. a2 Milk (ATM, #8) added +2%, taking its five-day gain to +5% and monthly rise to +2%, although it remains down -5% over six months and -18% year-on-year. Ryman Healthcare (RYM, #18) also rose +2%, extending its five-day advance to +4%, but remains down -9% over the month, -7% over six months and -33% year-on-year. Investore Property (IPL, #48) gained +1% on the day and over five trading days, while remaining down -3% over the month, -2% over six months and -18% year-on-year. 

THE MAIN DECLINERS
Infratil (IFT, #4) was the session’s biggest decliner, falling -6% and extending its five-day loss to -7%. The infrastructure investor is down -13% over the past month, while its six-month and year-on-year declines stand at -1% and -2%, respectively. Skellerup Holdings (SKL, #22) fell -2%, with losses extending across the past five trading days and month. However, the industrial products manufacturer remains up +29% over six months and +44% year-on-year. SkyCity Entertainment (SKC, #36) slipped -1%, taking its five-day decline to -1%, although it remains up +2% over the month. The casino operator is down -1% over six months and -11% year-on-year. Chorus (CNU, #13) also eased -1%, with its monthly decline reaching -5%; the telecommunications infrastructure provider is down -16% over six months and -12% year-on-year. 

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Contact Energy (CEN, #6) is considering an offer of up to $225 mln of unsecured, subordinated green capital bonds to New Zealand retail and institutional investors, with the option to accept additional subscriptions. Full details are expected later this week, with the offer anticipated to open during the week beginning the 2nd of November. The bonds are expected to receive a BB+ credit rating from S&P Global Ratings, two notches below Contact’s issuer rating, reflecting their subordinated status and the possibility of deferred interest payments. If the offer proceeds successfully, Contact intends to redeem its existing $225 mnl CEN060 green capital bonds on the 19th of November, their first reset date.

Pacific Edge (PEB) reported progress towards recovering its US commercial business in its Q2 FY27 investor update, including proposed Medicare price increases of around 35% for Cxbladder Monitor and 39% for Cxbladder Triage, subject to finalisation by the Centers for Medicare & Medicaid Services on January the 1st 2027. The proposed changes would lift prices from US$760 to US$1,026 and US$1,058, respectively. Cxbladder also secured in-network coverage with Blue Cross plans in North and South Carolina from November 1st, covering nearly 8 million people, while Triage Plus received a funding allocation within the US Veterans Administration system. US commercial test volumes fell -13.0% to 2,867 as the company maintained lower spending and focused on patients more likely to qualify for reimbursement, partly offset by a +3.7% increase in Asia-Pacific volumes to 1,201 tests. Triage Plus accounted for 5.6% of US tests in Q2 and 10.8% in September, up from 0.8% in Q1. Pacific Edge said final Medicare coverage remains a key milestone for its US recovery, with a decision expected by the end of 2026.