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 remained relatively flat today although down -0.2%, but essentially holding onto a +4% gain for the month and a +10% increase over the past six months. Year-on-year, the index has risen by +15%.
THE MAIN GAINERS
The market saw 35 gainers today, led by Mercury Energy (MCY, #5) and Tourism Holdings (THL, #45), both rising +2%. Mercury Energy has gained +4% for the month and +9% year-on-year, while Tourism Holdings, despite today's gain, remains down -43% for the year. Argosy Property (ARG, #32) followed with a +1.6% increase, though it has declined -4.5% year-on-year. Genesis Energy (GNE, #18) rounded out the top gainers, rising +1% today but down -6% year-on-year.
Mercury Energy
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THE MAIN DECLINERS
The market recorded 42 decliners today, led by Serko (SKO, #43), which dropped -2.4%, contributing to a -4% decline over the past five days and a -15% fall year-on-year. Meridian Energy (MEL, #2) followed, falling -2%, though it maintains a strong +19% gain for the year. Vista Group (VGL, #36) declined -1.7% but is up +3% for the month and an impressive +97% year-on-year. Lastly, Sky (SKT, #49) slipped -1.6%, bringing its year-on-year decline to -11%.
Serko
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.03% | -1.1% | +8.9% | +5.5% | +9.6% |
| NZ Top 10 ETF (TNZ) | -0.5% | -0.5% | +8.3% | +8.3% | +11.7% |
| S/P NZX50 ETF (NZG) | +0.2% | -0.8% | +9.3% | +9.3% | +12.5% |
| NZ Dividend ETF (DIV) | +0.4% | -2.7% | +5.7% | -2.4% | +0.2% |
KEY ANNOUNCEMENTS
Infratil (IFT, #4) has successfully allocated $75 mln in its Firm Offer of six-year fixed-rate infrastructure bonds maturing on December 13, 2030, including $25 mln in oversubscriptions. The Interest Rate for the New Bonds has been set at 6.00% per annum, the minimum rate for the offer. The New Bonds will be issued December 13, 2024 and quoted on the NZX Debt Market under the ticker code IFT360. An additional Exchange Offer for existing IFT260 bondholders will open tomorrow, the 4th of December.
Vital Limited (VTL) has confirmed that Empire Technology has initiated High Court proceedings related to a takeover proposal announced earlier this year but not completed. Under the Takeovers Act, Empire is required to reimburse Vital for $214,814 (+GST) in properly incurred takeover expenses, which Empire has refused to pay. Vital has formally requested the Takeovers Panel to determine the reimbursement amount. In its proceedings, Empire is seeking a court order to avoid reimbursing Vital's expenses and is claiming $108,425 (plus interest and costs) from Vital for its own takeover-related expenses. Empire also alleges that Vital failed to disclose certain information to the market and has asked the Takeovers Panel to delay its determination pending the court’s outcome. Vital strongly rejects Empire’s claims, is confident it has complied with its obligations, and intends to defend the proceedings.
NZX50 Energy Sector
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Click on the chart title to find more about this sector, including its components.
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