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 dropped -0.9% today, with a -3% decline over the past six months, leaving the index with a +5% gain for the year.
THE MAIN GAINERS
Only 24 companies saw gains, with Oceania Healthcare (OCA, #42) leading the charge, up +5%, though it has fallen -1% over the last five days. Year-on-year, Oceania’s share price has increased by +6%. Precinct Properties (PCT, #21) followed closely with a +2% gain, staying just above last year’s levels with a +0.4% increase. The Warehouse Group (WHS, #49) and Vector (VCT, #12) both rose +1%, but The Warehouse has lost -30% year-on-year, while Vector gained +7%.
Oceania Healthcare
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THE MAIN DECLINERS
On the downside, 58 companies declined, with Fletcher Building (FBU, #14) and Auckland International Airport (AIA, #3) both down -3%. Fletcher’s share price is down -18% year-on-year, despite a +2% increase in the last five days. Auckland Airport gained +1% for the year. Contact Energy (CEN, #7) dropped -2.5% today but has gained +9% over the past year. Stride Property Group (SPG, #36) lost -2%, down -1.5% year-on-year.
Fletcher Building
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.6% | -0.3% | -1.3% | -2.8% | +2.5% |
| NZ Top 10 ETF (TNZ) | -1.1% | -1.7% | -7.2% | -9.3% | +0.1% |
| S/P NZX50 ETF (NZG) | -0.6% | -0.3% | -3.1% | +3.0% | -4.9% |
| NZ Dividend ETF (DIV) | +0.2% | -0.1% | -4.7% | -3.0% | -3.8% |
KEY ANNOUNCEMENTS
Oceania Healthcare (OCA, #42) has successfully refinanced its debt facilities with strong demand from lenders, adding a new syndicate member and extending terms. Sales momentum is improving, with a +29% rise in new sales and +6% increase in resales in 3Q25 compared to 3Q24. The company is focusing on reducing gearing and transitioning its portfolio towards a greater retirement offering. Additionally, Oceania is centralising its business functions to achieve annual savings of $10-15m, with a completed $5m cost right-sizing program already in place.
Precinct Properties (PCT, #21) has agreed to sell the hotel at One Queen Street, Auckland, for $180m to Hotel Properties Limited, a Singapore-listed group. The hotel, opened in early 2024 and operated by InterContinental, has enhanced the Commercial Bay precinct. This sale aligns with Precinct’s strategy to recycle capital and reduce committed gearing by approximately 3%, positioning the company for the next phase of its strategy.
Air New Zealand (AIR, #19) reported a -3.1% decline in group capacity for January 2025, impacted by global engine maintenance requirements. While domestic and long-haul capacities decreased, short-haul international capacity saw a slight increase. The year-to-date underlying revenue per available seat kilometre (RASK) improved by +0.5%, with long-haul RASK rising slightly by +1.3%, while short-haul RASK declined by -1.3%.
Kiwi Property (KPG, #23) will pay a third-quarter dividend of 1.35 cents per share, with imputation credits of 0.332688 cents and a supplementary dividend for non-resident shareholders. The record date is 13 March 2025, and the payment date is 24 March 2025. The company’s Dividend Reinvestment Plan (DRP) will continue, with pricing determined by the five-day average share price to 18 March 2025, subject to a 2% discount.
As of February 2025, the total NZX Main Board market capitalisation is $176.8b, representing an +8.1% increase year-on-year and accounting for 41.9% of New Zealand's GDP. The equity market stands at $166.5b, up by +8.1%, while funds total $10.2b, with an +8.5% increase. The "all other" category saw a significant +103.8% rise, though it remains a small portion of the overall market.
NZX50 Healthcare Sector
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