Here are the key changes to know about in the New Zealand equity market; Manawa Energy, Mercury, Spark, and Investore lead the day's gains, while The Warehouse, Contact, The NZX, and Sky TV see the biggest declines

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 barely changed today, up only +0.3%, gaining +4.7% over the last five days. In the last month, it gained +5.8%. Year-on-year, the index has gained +5.6%.

THE MAIN GAINERS
There are 46 gainers in the NZX50 today, led by Manawa Energy (MNW, #22), which gains a massive +27%. For the month, it gained +33%, and is up +44% year-on-year. Mercury Energy (MCY, #5) gained +2%, up +8% over the last five days. Over the last six months, it declineed -9%, down -6% year-on-year. Spark (SPK, #12) also gained +2%, up +5% for the month. Over the last six months, Spark declineed -28%, down -51% year-on-year. Investore Property Limited (IPL, #46) also gained +2%, rising +7% over the last five days. Over the last six months, Investore's share price declined -8%, but is up +1% year-on-year.

THE MAIN DECLINERS
31 stocks in the equity market decline today. The Warehouse Group (WHS, #49) leads the top group, down -2%. Over the last five days, its share price fell -4%, down -6% for the month. In the last six months, it declineed -23%, and is down -39% year-on-year. Contact Energy (CEN, #7) also declined -2%, though it gained +5% over the last six months and is up +3% year-on-year. Sky Network Television (SKT, #47) falls -1%, up +5% for the month but down -12% year-on-year. NZX (NZX, #40) is mistakenly included in this group, as it actually gained +2% today. Over the last five days, NZX declined -3%, but is up +32% year-on-year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
The Commerce Commission has granted clearance for Contact Energy (CEN, #7) to acquire all shares in Manawa Energy under the proposed Scheme of Arrangement announced in September 2024. Manawa will now proceed to a shareholder vote, with a scheme booklet expected to be released before the end of May. With its two largest shareholders—together holding 77.9%—committed to voting in favour, the company expects the necessary approvals will be secured.

Briscoes Group reported unaudited first-quarter sales of $178.3m for the period ended 27 April 2025, down -2.58% from $183.0m a year earlier. Homeware sales fell 4.66% to $103.6m, while sporting goods rose 0.47% to $74.7m. Managing Director Rod Duke noted a tough retail environment, with warmer weather and unfavourable holiday timing negatively impacting sales - particularly heating products, which were down by over $2m. Rebel Sport performed well, with strong growth in women’s apparel and sporting gear. While margins remain under pressure, recent improvements have been seen, and inventory is well managed. Briscoe targets first-half NPAT of around $30m and expects stronger second-half performance.

Contact Energy (CEN, #7) has secured approximately 2.8PJ of gas from Methanex to be delivered over the next eight weeks, amid record-low hydro inflows and ongoing gas supply constraints. CEO Mike Fuge said the move reinforces Contact’s commitment to ensuring electricity supply security. The agreement combines buy and swap arrangements, with pricing linked to the electricity market and partially underwritten by third-party sales. The gas will help support operations at Contact’s Taranaki Combined Cycle plant and peaking units at Stratford through winter 2025. Contact still expects to close TCC immediately after the winter period.

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