Here are the key changes to know about in the New Zealand equity market; a2 Milk, Vital Healthcare, and Freightways all make gains today. Kathmandu and Oceania extend their retreats

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 little-changed today but holding on to a gain over the last 5-days of +1.8%. Year-on-year the index is up +10.7%.

THE MAIN GAINERS
There are 34 companies with a gain today, the biggest from a2 Milk (ATM, #10) up +1.9%. ATM sit at a gain of +9.4% for the previous month extending its strong year-on-year gain to a massive +50%. Vital Healthcare Property (VHP, #24)  also gain +1.9% but over the last year decline -12%. Freightways (FRW, #21) gain +1% today, FRW currently gain +9.6% from this time last year. NZX50 number one, Fisher and Paykel (FPH, #1), is up +0.6%. Over the last month the company is down -3.7% although last month it hit a five-year high at $38.50 per share. FPH are up a big +48.3% for the year-to-date.

THE MAIN DECLINERS
There are a total of 46 decliners on the board today. Kathmandu Brands (KMD, #50) dropped -3.8% since yesterday, down -8.9% for the month. KMD's decline is -39.3% year-on-year. Oceania Healthcare (OCA, #38) have the next biggest decline down -2.7%, down -11% for the month. Meridian Energy (MEL, #2) and the NZX (NZX, #43) fell -1.6%. Meridian also declined for the month down -4.6%, although gain for the last full-year up +13.7%. The NZX also declined for the last month down -1.6%, taking its year-on-year gain to +20%.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Genesis Energy (GNE, #18) announced that it has taken a majority shareholding in ChargeNet in order to 'accelerate' EV infrastructure growth. GNE will acquire a 65% stake in ChargeNet for $64 million. Chief retail officer of GNE, Stephen England-Hall, says "Decarbonising transport is crucial for New Zealand's future, and public charging infrastructure is a key element of that transition. This partnership combines ChargeNet’s market leadership with Genesis’ energy expertise and customer reach, enabling us to play a leading role in shaping the future of transport in New Zealand".

Kathmandu Brands (KMD, #50) announced the appointment of Brent Scrimshaw as its new Group Chief Executive Officer. The former Group CEO has given his notice of resignation in to the Board, having been in the role since May of 2021. Scrimshaw is no stranger to the Group having been a director since 2017. He is also the Global CEO of Enero. The chairman of KMD commented on the announcement saying "The Board is delighted that Brent has agreed to be the next CEO of KMD Brands. Brent’s global experience of the sports footwear and apparel industry will be of enormous benefit to the Group. As a director, Brent has consistently demonstrated a clear and perceptive understanding of the technical branded products markets worldwide. His experience and skills are rare in this part of the world. Brent will take up this executive role with a clear understanding of the Group and its structure, as well as the challenges and opportunities facing the business."

Synlait Milk (SML) confirmed that the issue of approximately $217.8 million worth of new equity capital to the company's two largest shareholders, Bright Dairy and a2 Milk (ATM), has successfully been completed along with the company's refinancing of its existing bank facilities. SML also confirmed its settlement with a2 Milk was now effective. Chair of SML George Adams says "Today’s transactions provide a new foundation on which Synlait can further progress its business recovery. It is good to have these distractions behind us and the space to solely focus on our strategy to return the company to profitability."

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