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 +0.5% today, gaining +3.2% for the month. Compared to this time last year the NZX50 is up +12.2%.
THE MAIN GAINERS
There are a total of 39 gainers today. Meridian Energy (MEL, #2) is the leader up +2.7% since yesterday. MEL now declines -2.9% for the month, gaining +18.8% year-on-year. Second on the gainers list is Chorus (CNU, #12) up 2.5%. Since May this year CNU has had a strong run up +13.4% for the month, and +21.4% from this time last year. Third is Scales Corp (SCL, #39) up +1.4%. SCL has also had a gradual rise in share price. SCL is up +7.5% for the recent month, up +18% for the year.
Meridian Energy
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THE MAIN DECLINERS
The decliners match the gainers today also at 39. Kiwi Property Group (KPG, #22) has the biggest decline down -2.1%. KPG has been on the up since July this year. The Property giant currently gaining +3.3% for the month, up +9.4% year-on-year. Kathmandu Brands (KMD, #46) is back yet again down -1.9%. KMD is up +24.4% for the month, declining -33.8% for the year. Oceania Healthcare (OCA, #38) has a -1.2% decline since yesterday. OCA's July surge now puts the company up +5.2% over the month, up +8% year-on-year.
Kiwi Property Group
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.8% | +0.9% | +2.4% | +3.1% | +4.7% |
| NZ Top 10 ETF (TNZ) | +1.0% | +2.1% | +7.2% | +6.7% | 11.2% |
| S/P NZX50 ETF (NZG) | +0.6% | +1.1% | +5.8% | +6.3% | +8.6% |
| NZ Dividend ETF (DIV) | +1.0% | +0.8% | -1.2% | -2.0% | -0.3% |
THE KEY ANNOUNCEMENTS
Ryman Healthcare (RYM, #15) has agreed amendments to their debt covenants and have extended one of its current banking facilities. RYM's interest cover ratio (ICR) covenant levels have been changed for testing periods through to March 2026. For testing periods beyond March 2026, the ICR remains at 2.25x. CFO of RYM Rob Woodgate commented saying “As signaled in our Business Improvement Performance Update on 2 September 2024, given the continued uncertainty around residential property market conditions in the near term, we believe a prudent step is to attain additional covenant headroom for upcoming testing periods. Discussions with our lenders have been positive and they remain very supportive of Ryman.” The table with the figures for the amendments can be found on their announcement on the NZX announcements page. In addition the $115 million bank facility currently maturing on the 30th of September 2024, has been extended to the 1st of April 2026.
Turners Automotive Group (TRA, #48) has acquired 50% of MyAutoShop. TRA has outlined that they see strategic value in accelerating the growth of MyAutoShop. CEO Todd Hunter says “Vehicle servicing and repairs is a $3b business in NZ and has been a gap in the Turners offering. We buy and sell vehicles, we can insure and finance those vehicles, and now we can add an offer to service and repair vehicles. The potential lifetime value of our customers to us has increased substantially.”
NZX50 Energy Sector
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