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 NZX50 IS DOING
The NZX50 is up a small +0.2% today. Over the month the index is now up +2.6%, up +10% from this time last year.
THE MAIN GAINERS
There are more than double the amount of gainers today than yesterday, currently 46. Infrastructure power, Infratil (IFT, #4) lead the way up +3.8%. The company continues to string together a strong year up +12.7% for the month and +15% from this time last year. Second is Hallensteins Glassons Group (HLG, #50) up +3.9% and although the company sit at the very bottom end of the NZX50 index, they continue to have a positive year up +9% for the month and +4.4% for the year. HLG also released an announcement with guidance to their full-year results due at the end of the month. Mercury (MCY, #5) have the next biggest gain up 2.4% followed by Mainfreight (MFT, #6) up +2.2%.
THE MAIN DECLINERS
There are 40 decliners today. Vital Healthcare (VHP, #23) is down -3.2% from yesterday, down -10.8% from this time last year. Ryman Healthcare (RYM, #13) follows in second down -1.7%. RYM are up +3.8% for the month, but still a huge -29% down year-on-year. Argosy Property (ARG, #30) decline -1.6% but have held strong since the release of their full-year results, up +10.9% for the month. The NZX (NZX, #43) is also down -1.6%.
SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.1% | +0.9% | +2.9% | +2.2% | +2.5% |
| NZ Top 10 ETF (TNZ) | +0.04% | +1.4% | +6.7% | +5.1% | +7.3% |
| S/P NZX50 ETF (NZG) | -0.4% | +1.6% | +5.4% | +5.4% | +6.8% |
| NZ Dividend ETF (DIV) | +0.3% | +1.4% | +1.9% | -1.5% | -0.7% |
THE KEY ANNOUNCEMENTS
Former NZX50 company Synlait Milk (SML) have increased their forecasted milk price for the 2024/2025 season. The price is now $8.60 per kgMS, up from $8.00 per kgMS. In their announcement posted on the NZX, Synlait notes that they are taking a "conservative" approach to their forecast given the current volatility within the Dairy industry.
Pacific Edge (PEB) has announced that their current chair Chris Gallager has accepted the request by PEB's current Board to delay his planned retirement and take the company into 2025. In July this year, Novita (Medicare Administrative Contractor) for PEB's lab in the US confirmed that they granted an extension beyond the standard practice timeline for LCD (Local coverage Determination) 'Genetic Testing for Oncology'. Therefore the companies Board determined that it is in their best interest to keep Gallager on until the process has been complete in order for a smooth handover to the Chair's successor.
Hallensteins Glassons Group (HLG, #50) announced guidance on their full-year results ending on the 1st of August. The company has advised Group sales are up +6.3% on the prior year ($409.7m). Group net profit after tax is also set to have an increase of +14.5% to be in the range of $34m-$34.75. The full announcement will be released on the 30th of September.
Yesterday the NZX monthly (August) Shareholder metrics were released and the results were as follows:
- Total equity securities: 123 (down -4.7% 1Y)
- All equity markets capitalisation: $160,457,000 (up +3.5% 1Y)
- Total trades: 732,370 (up +5.4% 1Y)
- Value Traded: $2.76 billion
- Average on-market trade size: $2,398 (up +9.2% 1Y)
NZX50 Property Sector
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