Here are the key things you need to know about in the NZX markets over the past 24 hours. Changes are as at 3:05 pm and may change when the market closes at 4:45 pm.
WHAT THE NZX50 IS DOING
The NZX50 is down so far -0.7% today and softening. That means it is up +1.9% over the past five days, up 2.0% from this time last month.
THE MAIN GAINERS
There are 34 gainers today, the biggest is from KMD Brands (KMD, #50) who are up +8.2% from yesterday. The NZX also posted the announcement of KMD brands unaudited results, the audited report will be released on the 25th of September. Next biggest significant rises are by Move Logistics up +5.6%, Vulcan Steel up +2.6%, Winton Land up +2.4% and Stride Property (SPG, #35) who are up +2.1%. These are all interim and may change by the end of trading.
THE MAIN DECLINERS
There are 48 decliners so far today. The biggest decliner for today is Mercury Energy (MCY) who currently sit at fourth on the NZX50, they're currently down -4.9%. Freightways Group (FRW, #21) is next decline down -3.2% for the day. The two companies both faced these declines on the following day of their FY24 results release. Other decliners included Michael Hill down -3.2%, Investore Property down -2.3%, and and Skellerup down -2.3%. Again, these are interim changes.
THE KEY ANNOUNCEMENTS
Today Fletcher Building (FBU, #17) announced the appointment of a new CEO and Managing director Mr Andrew Reding. Reding who has worked in the construction materials, and building product sectors for the last 35 years will start his new role as Director on the 22nd of August, and will assume the role of CEO and managing director from the 30th of September.
Mercury Energy (MCY, #4) announced along with their FY24 results, the reinvestment of $700 million committing to the expansion of the Kaiwera Downs Wind Farm, and Ngā Tamariki Geothermal Station over the next year. They also announced the current Mercury CEO Vince Hawksworth stepping into retirement, Chairman Scott St John announced the successor, current Executive GM of Generation, Stew Hamilton.
THE ANNUAL REPORTS RELEASED
Mercury Energy (MCY, #4) was the only FY24 annual report released today.
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