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
Following the announcement by the RBNZ of a 50 basis point cut to the OCR, the NZX50 has responded with a sharp +1.4% gain. This takes its year-on-year gain to +13.2%.
THE MAIN GAINERS
As a result of the response there are a massive 89 gainers in the equity market. Vulcan Steel (VSL, #29) currently has the biggest gain up +3.5%, over the last five-days the company gains +9.3%. Heartland Group Holdings (HGH, #32) follows up +2.9%. HGH has a decline for the most recent month down -2.8%, this takes it yearly decline to -38.7%. Contact Energy (CEN, #8) gains +2.8%, up +3% over the last five-days. Followed by another company in the energy sector, Manawa Energy (MNW, #22), gaining +2.5%. Over the last month MNW's share price has risen +32.8%, the company now gains +18.4% year-n-year.
Vulcan Steel Limited
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THE MAIN DECLINERS
There are currently 40 decliners in the market. This biggest decline for a company within the NZX50 is by SkyCity Group (SKC, #27) down -1.5%. SKC's share price has declined -23.7% year-on-year. Hallenstein Glassons (HLG, #42) fell -1% but over the last year the company has seen gradual rises with its yearly gain currently sitting at +22%. The NZX themselves (NZX, #43) is down -0.7% followed by Skellerup Holdings (SKL, #34) down -0.4%.
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +1.2% | +1.8% | +6.5% | +5.4% | +11.1% |
| NZ Top 10 ETF (TNZ) | +1.2% | +2.4% | +4.0% | +4.7% | +7.6% |
| S/P NZX50 ETF (NZG) | +1.3% | +2.5% | +5.9% | +7.2% | +10.9% |
| NZ Dividend ETF (DIV) | +1.9% | +2.3% | +0.3% | -1.4% | -0.5% |
KEY ANNOUNCEMENTS
Michael Hill (MHJ) announced today that over the coming weeks Managing Director, and CEO, Daniel Bracken, intends to sell shares in the company in order to fund an upcoming tax liability related to shares issued to him under the company's long term incentive plan.
Pacific Edge (PEB), a company that was dropped from the NZX50 in December 2023, has released its Investor update today. To read the update follow here: PEB investor update
NZX50 Industrial Sector
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