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 saw a small +0.2% rise today, closing out the five-day trading period with a -1% decline. Year-to-date, the index has fallen -5%, though it remains up +5% from this time last year.
THE MAIN GAINERS
In the equity markets, 31 companies finished the week in positive territory. Kathmandu Brands (KMD, #50) led the gains, rising +3%, though it remains down -27% over the past six months and -25% for the year. Stride Property Group (SPG, #36) and Spark (SPK, #11) both gained +2%. Stride has edged up +1% over the past five days but remains down -10% in six months. Spark, however, has dropped sharply, falling -35% in the last six months and -55% for the year. Scales Corp (SCL, #37) added +1%, continuing its strong momentum with a +37% gain year-on-year.
Kathmandu
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THE MAIN DECLINERS
On the downside, 45 stocks declined today, with Tourism Holdings (THL, #47) leading the losses, down -3%. The company has dropped -5% over the past five days and is down -46% year-on-year. Kiwi Property Group (KPG, #23) fell -2%, bringing its six-month decline to -4% and its year-on-year loss to -46%. Argosy Property (ARG, #33) also declined -2%, now down -13% from this time last year. Manawa Energy (MNW, #22) slipped -1% today but remains one of the stronger performers, up +22% over six months and +18% year-on-year.
Tourism Holdings
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.03% | -0.7% | -0.5% | -2.7% | +1.9% |
| NZ Top 10 ETF (TNZ) | +0.1% | -0.7% | -5.8% | -8.4% | +0.6% |
| S/P NZX50 ETF (NZG) | +0.1% | -1.3% | -2.1% | -4.3% | +3.3% |
| NZ Dividend ETF (DIV) | 0% | -1.0% | -4.1% | -4.1% | -4.1% |
KEY ANNOUNCEMENTS
2 Cheap Cars (NZX:2CC) has secured a new finance facility with ANZ Bank, including a NZD$5.0 million trade finance loan and a NZD$1.0 million commercial flexi facility. CEO David Sena said this strengthens the company’s banking relationships and supports growth. Despite ongoing economic challenges, 2 Cheap Cars expects FY25 NPAT to exceed NZD$3 million, aided by carbon credits, and remains optimistic about improving trading conditions.
NZME (NZX/ASX: NZM) is seeking clarification from Jim Grenon and JTG 4 Limited regarding their claim that shareholders representing 37% of NZME’s shares support their director nominations and proposals. NZME has asked whether this figure includes Grenon and JTG’s own holdings and will update the market upon receiving confirmation.
NZX Limited (NZX) has accepted the resignation of KPMG as its external auditor, with PwC appointed for the financial year starting 1 January 2025. The change follows a governance-driven review, with NZX thanking KPMG for its service since 2007.
SouthPort (NZX:SPN) reported a strong first-half FY25 performance, with NPAT rising to NZD$5.76 million from NZD$3.03 million in 1H24, driven by increased bulk cargo volumes. Key factors include higher imports of fertiliser and stock food, recovering forestry exports, and efficiencies from Bluff’s deepened entrance channel. Full-year earnings are expected to exceed previous guidance of NZD$9.3 million to NZD$10.3 million.
NZX50 Industrial Sector
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Click on the chart title to find more about this sector, including its components.
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