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 INDEX IS DOING
The NZX50 gained +0.3% today following the RBNZ's OCR cut, continuing its upward trend. Over the past five days, the index has risen +3.2%, delivering a strong +11.9% growth over the last six months. On a year-on-year basis, the NZX50 is now up a strong +17.9%.
THE MAIN GAINERS
A total of 40 companies recorded gains on the NZX50 today, led by Gentrack (GTK, #25), which advanced +5%, continuing its momentum following yesterday’s strong full-year results and expansion plans. Over the past five days, Gentrack has soared +29.2%, reaching an all-time high of $13.13 per share. Year-on-year, the company’s share price has surged +157%. Spark (SPK, #9) returned to the gainers list with a +3.3% rise, although it remains down -42% year-on-year. F&P Healthcare (FPH, #1) posted a +2% gain today, extending its impressive year-on-year growth to +75%. SkyCity Entertainment (SKC, #30) also increased by +2%, though its performance remains subdued with a -17% decline year-on-year.
Gentrack
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THE MAIN DECLINERS
The market saw 42 decliners today, led by Investore Property Limited (IPL, #46), which dropped -3% despite achieving a +11% gain year-on-year. Kathmandu Brands (KMD, #50) continue its decline, falling -2.4%, extending its year-to-date decline to -48%. Infratil (IFT, #4) decreased -2% today but recorded a +2% gain over the past five days and maintains a robust +28% increase year-on-year. Lastly, The Warehouse Group (WHS, #48) slipped -1.9%, contributing to a significant -40% year-on-year decline.
Investore Property
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.2% | +2.9% | +9.7% | +7.1% | +11.2% |
| NZ Top 10 ETF (TNZ) | +0.9% | +3.7% | +10.9% | +9.7% | +15.1% |
| S/P NZX50 ETF (NZG) | +0.7% | +3.3% | +10.6% | +10.6% | +14.5% |
| NZ Dividend ETF (DIV) | +0.3% | +0.7% | +7.6% | +0.3% | +2.1% |
KEY ANNOUNCEMENTS
Synlait Milk Limited (SML) has released its first Integrated Climate Report, combining its sustainability report, climate-related disclosures, and greenhouse gas inventory for FY24. Key achievements include a -20% reduction in Scope 1 emissions (excluding Synlait-owned farms) since FY20 and a -40% drop in nitrogen loss from supplier farms since FY18. On-farm greenhouse gas emissions have decreased by -9% per kilogram of milk solids since FY20, though Scope 2 emissions rose +11% due to the switch to an electrode boiler. Acting CEO Tim Carter commended the progress made during a challenging year, while Chair George Adams emphasised the competitive advantage of Synlait’s sustainability focus in meeting global emissions reduction goals.
Stride Property Group (SPG, #34) announced a +3.5% increase in net rental income to $36.0 mln for the six months ending 30 September 2024 (HY25), with profit after tax climbing $69.0M to $18.5M, reflecting improved asset valuations and stabilising market conditions. Total assets under management (AUM) reached $3.3B, supported by steady development activity across its Industry, Investore, and Diversified portfolios. Key highlights include a +104% rise in non-recurring revenues for Industre and robust leasing metrics for Investore, with 99.3% occupancy and a 7-year weighted average lease term (WALT). Diversified’s specialty retail turnover dipped -2.2%, though rent reviews drove a +2.8% rental uplift, while SPL’s office portfolio maintained 87.6% occupancy, with ongoing upgrades aimed at enhancing demand.
Stride advanced sustainability goals with several properties achieving 5 Green Star ratings or carbon reduction upgrades. Its balance sheet remains strong, with a committed bank loan-to-value ratio (LVR) of 38% and 73% of debt hedged. Looking ahead, Stride plans to continue property upgrades, deliver high-quality developments, and capitalize on expected easing in interest rates to support valuations and transaction activity. The Board reaffirmed its annual cash dividend target of 8.0cps for FY25.
NZX50 Food Sector
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