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 has fallen -0.6% so far today and falling, extending its -2.7% decline over the past five days. Over the last six months, the index has dropped -4%, although it remains up +3% year-on-year.
THE MAIN GAINERS
Heartland Group Holdings (HGH, #34) led the market, rising 2%. However, its share price is still down -3% over five days and 32% year-on-year. Manawa Energy (MNW, #22) also gained +2%, bringing its year-on-year increase to +14%. Gentrack (GTK, #26) rose +1.5%, up +28% over the year. Genesis Energy (GNE, #17) added +1%, though it remains down -10% year-on-year.
Heartland Group Holdings
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THE MAIN DECLINERS
Kathmandu Brands (KMD, #50) led the losses, falling -4% and extending its -8% drop over five days. Its share price is now down -31% year-on-year. NZX (NZX, #41) declined -3% but remains up +52% over the year. Serko (SKO, #43) slipped -2% today but has gained +14% in the past six months. Summerset (SUM, #16) also dropped -2%, though it holds a +7% year-on-year gain.
Kathmandu
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | -0.2% | -0.9% | -2.1% | -4.3% | +0.9% |
| NZ Top 10 ETF (TNZ) | -0.4% | -2.6% | -9.4% | -11.6% | -1.8% |
| S/P NZX50 ETF (NZG) | +0.6% | -0.9% | -4.1% | -6.3% | +1.9% |
| NZ Dividend ETF (DIV) | +2.4% | -0.1% | -4.0% | -4.4% | -3.2% |
KEY ANNOUNCEMENTS
Auckland Airport (AIA, #3) has awarded an eight-year duty-free contract to global travel retailer Lagardère, following a competitive RFP process. The new partnership, set to begin on 1 July 2025 pending regulatory approval, will see Lagardère overhaul Auckland Airport’s duty-free stores, introducing a wider range of global brands and a major transformation of the departures shopping area. The shift aligns with Auckland Airport’s move to a single duty-free operator model, aimed at improving pricing and retail variety for travellers.
Argosy Property (ARG, #33) has announced a strike price of $0.9733 per share for its Dividend Reinvestment Plan. This applies to the dividend scheduled for payment on 26 March 2025, allowing shareholders to reinvest their dividends at this set price.
Investore Property (IPL, #46) has entered an unconditional agreement to sell Woolworths Mount Roskill, located at 112 Stoddard Road, Auckland, for $25 million. The sale represents an 11% premium to the property’s book value and reflects continued demand for large-format retail assets. Settlement is expected in late March 2025, with proceeds initially used to repay bank debt before being reinvested into strategic opportunities to support long-term rental growth. Following the sale, Woolworths' weighting in Investore’s portfolio will decrease from 62.5% to 61.7% by contract rental.
Vista Group (VGL, #32) has confirmed its Annual Meeting of Shareholders will take place on 21 May 2025 at 3:00 pm in a hybrid format, with in-person attendance at PwC Tower, Auckland, and an online option available. The company has opened director nominations from today, with a closing deadline of 2 April 2025. Nominations must be submitted by a shareholder eligible to vote at the meeting and include the nominee’s consent and biographical details.
NZX50 Industrial Sector
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