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 NZX 50 has fallen another -1% today, bringing its monthly decline to -5%. Despite the pullback, the index remains up +4% year-on-year.
THE MAIN GAINERS
There were 21 gainers, led by Infratil (IFT, #4), which rose +2%. The stock is down -6% over the past month and -1% year-on-year. Channel Infrastructure (CHI, #35) gained +1% and is now up +32% year-on-year. Gentrack (GTK, #25) also added +1%, though it remains down -3% over the last six months but up +35% year-on-year. Serko (SKO, #44) edged up +0.3% but has declined -7% in the past year.
Infratil
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THE MAIN DECLINERS
Declines dominated the session, with 59 stocks finishing lower. Tourism Holdings (THL, #47) led the losses, falling -4%, now down -5% for the month and -48% year-on-year. The Warehouse Group (WHS, #49) dropped -3%, extending its monthly decline to -10% and its yearly drop to -30%. F&P Healthcare (FPH, #1) also lost -3%, though it remains up +39% over the past 12 months. Heartland Group Holdings (HGH, #33) shed -2%, bringing its five-day decline to -4% and its yearly drop to -39%.
Tourism Holdings
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -1.2% | -1.1% | -4.2% | -5.9% | +3.9% |
| NZ Top 10 ETF (TNZ) | -1.5% | -1.8% | -9.1% | -9.9% | -0.5% |
| S/P NZX50 ETF (NZG) | -0.3% | -1.1% | -4.7% | -5.5% | +2.0% |
| NZ Dividend ETF (DIV) | -0.6% | -0.5% | -5.5% | -3.8% | -3.8% |
KEY ANNOUNCEMENTS
Fonterra has announced management changes as it progresses with divesting its Consumer and associated businesses. CEO Miles Hurrell said the moves are aimed at driving end-to-end value in Fonterra’s global Foodservice and Ingredients operations. Richard Allen is now President – Global Ingredients, overseeing markets including Greater China and Middle East Africa. Teh-han Chow has been appointed President – Global Foodservice, expanding his remit to include South East Asia and Middle East Africa while retaining his role as CEO for Greater China. René Dedoncker’s title changes to Managing Director Global Markets Consumer as he leads businesses set for divestment.
F&P Healthcare (FPH, #1) has launched the F&P Nova Nasal mask for treating obstructive sleep apnea, following last year’s Nova Micro release. The mask features SwingFit™ headgear, a RollFit™ cushion for adaptable sealing, and a washable diffuser to minimise noise. Clinical trials reported 98% user trust in effectiveness and 95% comfort ratings. The mask is initially available in New Zealand and Australia, with global expansion planned pending regulatory approvals.
Spark (SPK, #12) has expanded its strategic partnership with Hewlett Packard Enterprise (HPE) to enhance automation and efficiency through HPE GreenLake cloud. The move aligns with Spark’s shift to a variable IT model, reducing annualised IT costs and supporting the SPK-26 Operate Programme. Spark will retain control over IT infrastructure while leveraging HPE’s global capabilities. The programme aims to cut net labour and operating expenses by $80-$100m in FY25, with annualised savings of $110-$140m by FY27.
The Commerce Commission has released a draft recommendation to deregulate wholesale copper services, citing widespread availability of alternatives. Chorus, which has seen a -21% drop in copper connections over the past year, supports the move, noting copper’s planned phase-out by 2030. Chief Corporate and Regulatory Officer Julian Kersey said the network is no longer sustainable, with superior services now widely accessible. The Commission is consulting on its report, with submissions closing on 9 April.
NZX50 Healthcare Sector
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