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 NZX 50 INDEX IS DOING
The NZX50 fell -1.5% today, kicking off the week with a sharp decline in reaction to the tariff war hostilities. The index is now down -2% month-on-month but remains up +4% over the past six months and +7% year-on-year.
THE MAIN GAINERS
Just 26 stocks posted gains today, led by Stride Property Group (SPG, #36), which rose +2%. Stride is up +3% over the last six months but down -5% year-on-year. Gentrack (GTK, #24), Tourism Holdings (THL, #46), and Manawa Energy (MNW, #22) all gained +1%. Gentrack has surged +31% over six months and an impressive +81% for the year. Tourism Holdings has struggled, down -12% in six months and -48% year-on-year. Manawa Energy, however, has gained +28% in six months and +36% over the year.
Stride Property Group
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THE MAIN DECLINERS
F&P Healthcare (FPH, #1) led today's declines, falling -6%, though its share price remains up +42% for the year. Fletcher Building (FBU, #15) and a2 Milk (ATM, #10) both dropped -3%. Fletcher is down -9% over the last six months and -33% year-on-year, while a2 Milk remains up +18% year-on-year. Skellerup (SKL, #32) fell -2% but holds a +5% gain for the year.
Fisher and Paykel Healthcare
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -1.0% | -0.1% | +3.3% | -0.7% | +3.3% |
| NZ Top 10 ETF (TNZ) | -1.3% | -1.9% | +4.0% | -2.8% | +4.6% |
| S/P NZX50 ETF (NZG) | -1.2% | -0.7% | +3.6% | -1.6% | +5.3% |
| NZ Dividend ETF (DIV) | -0.2% | +0.7% | +3.2% | -0.4% | -2.1% |
KEY ANNOUNCEMENTS
The United States has announced new tariffs, including a 25% duty on imports from Mexico and Canada and a 10% duty on imports from China, effective from 4 February 2025. F&P Healthcare (FPH, #1), which manufactures 45% of its volume in Mexico and derives 43% of its revenue from the US, does not expect a material impact on its 2025 financial year net profit. However, costs are likely to increase in 2026 due to these tariffs, potentially delaying its 65% gross margin target by two to three years. The company will provide further updates in its full-year results in May.
Fletcher Building (FBU, #15) has completed its Board renewal process with the appointment of Peter Crowley as Chair, effective immediately, and Jacqui Coombes as an independent non-executive director from 14 April 2025. Acting Chair Barbara Chapman will step down on 30 April after a transition period. Crowley, a director since 2019, brings extensive industry experience, while Coombes, formerly of Bunnings, adds expertise in retail and people management. The Board believes these appointments strengthen Fletcher Building’s leadership for future growth.
SkyCity Adelaide has reached a A$38.1 million settlement with the South Australian Treasurer, resolving a long-running dispute over casino duty calculations. The settlement covers additional casino duty, interest, and costs for the period from January 2014 to January 2024. CEO Jason Walbridge welcomed the resolution and reaffirmed SkyCity’s commitment to a constructive relationship with RevenueSA. The parties expect to finalise a formal agreement soon.
NZX50 Healthcare Sector
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