Here are the key changes to know about in the New Zealand equity market; F&P Healthcare and Skellerup lead the gainers, PFI and Kathmandu (again) are the main laggards

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 a little higher after yesterday's surge currently gaining +0.3% from then. Over the past five-days the NZX50 is up +1.8%. For the year-to-date it gains +9.2%, and +13.4% year-on-year.

THE MAIN GAINERS
The NZX equity market has 41 gainers. Fisher and Paykel Healthcare (FPH, #1) has the biggest gain up +2.1%. Over the last five-days the company has gained +2.9% taking its year-on-year gain to a huge +67%. Skellerup Holdings (SKL, #34) follow closely up +2%, gaining +4.9% over the last five days. Manawa Energy (MNW, #22) is up +1.7% for the day, the company's share price continues to climb up +32.8% for the month. a2 Milk (ATM, #10) gained +1.6% since yesterday. ATM is up +17.9% for the month, and is currently sitting at four-week high at $7.14 per share. For the last year the company has gained a massive +57.4%.

THE MAIN DECLINERS
The market has 42 gainers today led by Property for Industry (PFI, #28) declining -3.1%, down -3.1% year-on-year. Kathmandu Brands (KMD, #49) is down -3.9% taking its share price decline to -40.5% for the last year. The company hit an all time low in July with a share price of 35 cents per share. Spark (SPK, #9) declined -2%, down -37.3% year-on-year followed by Channel Infrastructure (CHI, #36) down -1.6% with a big gain of +23.8% year-on-year.

SMARTSHARES EFTs

KEY ANNOUNCEMENTS
Fonterra Co-operative Group announced today a change to its Management Group in order to aid its next phase in strategic development. Managing Director of the Cooperative affairs Mike Cronin has been leading the potential consumer divestment process full time. Matt Bolger, former Fonterra Alumni, returns to the co-op and will become the Managing Director of co-operative affairs from March in 2025. CEO Miles Hurrell commented: "exploring options for the potential divestment of our Consumer businesses is one of the most important projects Fonterra has undertaken and has the potential to unlock significant value for our farmer shareholders and unit holders. As we progress this work, Mike will step away from the Managing Director Co-operative Affairs role to dedicate his time to the potential divestment. He will remain a key member of the Fonterra Management Team."

Synlait Milk has increased its forecasted milk price for the 2024/2025 season to $9.00/kgMS from $8.60/kgMS. In the announcement to the NZX it says the increased forecast comes from "Continued strengthening in global commodities prices, off the back of contractions in global supply".

Auckland Airport (AIA, #3) announced that its $200 million retail offer was oversubscribed. This was a part of the company's capital raise, AIA received a total of approximately NZ$223 million in applications for the offer. The eligible shareholders were allocated their pro rata proportion of the total offer amount (or the lesser amount they applied for). The refunds for the surplus application amounts will be paid to applicants on or before the 18th of October.

Air New Zealand (AIR, #20) released its monthly investor update for August. Group capacity declined -7% from that time last year. Long-haul international ASK's (Available seat kilometres) decreased -8.9%, and the short-haul international flights declined -2%. The domestic ASK's also declined, down -8.4% from August 2023. The current reductions are due to 'aircraft availability'. To read the investor update in full, click here: AIR Investor Update

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