Here are the key changes to know about in the New Zealand equity market; NZX 50 slips -0.5% despite gains for Gentrack, Tourism Holdings, Air NZ and Sanford. Kathmandu, Napier Port, Hallensteins and Serko fall

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 looking at a decline of -0.5% today, extending its decline to -1.0% over the past five trading days and -1.3% over the month. The index remains up +5.8% over six months and +2.9% year-on-year. Market balance was evenly split, with 37 gainers and 37 decliners.

THE MAIN GAINERS
Gentrack (GTK, #47) led the gainers, rising +4% on the day and +8% over five trading days. It is up +5% over the month, although remains down -28% over six months and -50% year-on-year. Tourism Holdings (THL, #41) gained +2%, taking its six-month advance to +34% and its annual gain to +15%, despite remaining down -2% over five days. Air New Zealand (AIR, #27) added +2% and is up +1% over five days, but remains down -14% over six months and -34% year-on-year. Sanford (SAN, #43) also rose +2%, extending its five-day gain to +4%, while still down -18% over six months and -3% over the month. 

THE MAIN DECLINERS
Kathmandu Brands (KMD, #50) was the weakest performer, falling -3% on the day and -7% over five days. The retailer is down -10% over the month and -59% year-on-year, despite being up +13% over six months. Napier Port Holdings (NPH, #37) also dropped -3%, extending its five-day decline to -6%; it is down -4% over both the month and six months, but remains up +4% year-on-year. Hallenstein Glassons (HLG, #34) shed -2%, although its longer-term performance remains strong, with gains of +11% over the month, +48% over six months and +51% year-on-year. Serko (SKO, #49) fell -2%, taking its five-day loss to -4% and its declines to -18% over the month, -38% over six months and -61% year-on-year. 

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
F&P Healthcare (FPH, #1) has disclosed unauthorised access to two employee email accounts and a subset of company files. The company activated its incident response protocols, believes the breach has been contained and is notifying affected individuals after identifying personally identifiable information in some of the accessed files. Relevant authorities have also been notified. The company said there was no evidence of compromise to the system maintaining patient data, and no impact on products, manufacturing, supply chains or customer support. No evidence of ransomware or malware has been identified, and the incident is not expected to have a material impact on financial performance or operations.

Genesis Energy (GNE, #15) delivered a strong start to FY27, with high national hydro storage keeping wholesale electricity prices lower and allowing it to reduce thermal generation, purchase electricity from the market and redirect available gas to industrial customers. Total customer numbers rose 0.7% during the quarter to 493,450, continuing the growth trend from Q4 FY26. Thermal generation fell 620 GWh year-on-year to 163 GWh, with Huntly Unit 5 remaining idle. The company commissioned Stage 1 of its 100 MW / 200 MWh Huntly Battery Energy Storage System, while reaching a final investment decision on the Leeston Solar Farm, with construction expected to begin in Q2/Q3 FY27. Its Tihori solar project remains on budget and on track for commissioning in Q1 FY28, while Rangiriri remains in pre-FID development. Genesis also contracted 11.4 PJ of third-party gas for delivery from March 2027 to December 2029 and exercised its right of first refusal over up to 8.6 PJ of additional Kupe gas for January 2027 to December 2028. Digital transformation milestones remain on track within the $145 mln investment envelope, while coal stocks remained above 1.2 million tonnes amid limited demand for coal-fired generation.

Lodestone Energy has listed on the NZX Main Board following a $75 mln initial public offering, attracting around 10,000 new shareholders and marking New Zealand’s first significant IPO in approximately five years. Shares were offered at $2.25 each, implying a post-IPO market capitalisation of $440 mln and an enterprise value of $513.6 mln. Almost half the capital raised came from new retail investors, with the remainder from institutional investors and existing shareholders, all of whom retained their holdings subject to post-listing escrow arrangements. Lodestone operates five solar farms across New Zealand, generating enough electricity annually to meet the needs of more than 33,000 average homes, with a sixth farm under construction in Hawke’s Bay. The company also sells electricity directly to businesses including The Warehouse Group, Inghams and Briscoes, and is expanding its residential and small-business retail offering. IPO proceeds will support its development pipeline and customer growth, as Lodestone targets 16 to 18 operating solar farms by FY32, with plans to bring two to three new farms online each year.

Manuka Resources (MKR) generated A$1.64 mln in revenue from its latest precious metals delivery from the Wonawinta operation, with refining results confirming 267 ounces of gold and 453 ounces of silver from material delivered to ABC Refinery in Sydney on the 16th of October. The company expects to maintain weekly deliveries, with the next shipment scheduled for the 23rd of October. Gold production remains the immediate operational focus, with October operating profitability expected to be reported in early November. Following commissioning of its new crushing and silver deslime circuits, Manuka expects to transition to combined gold and silver processing at Wonawinta in early 2027. The company says available gold-bearing material from its Mt Boppy project will provide flexibility to optimise its production mix based on precious metals prices, operating performance and expected returns.