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 gained +0.9% so far today, though it remains down -0.9% over the last five days. Over the past six months, the index has declined -1.9%, but it holds a +2.1% gain year-on-year.
THE MAIN GAINERS
The market saw 59 gainers today, led by The Warehouse Group (WHS, #49), which rose +5%. Despite this, its share price has fallen -3% in the past week and is down -43% year-on-year. NZX (NZX, #41) gains +4%, adding +25% over the last six months and climbing +58% over the past year. Kathmandu Brands (KMD, #50) rises +3% but remains down -28% year-on-year. Infratil (IFT, #4) also gains +3%, though it has lost -1% over the last year.
The Warehouse Group
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THE MAIN DECLINERS
On the declining side, 26 stocks fell today. Vulcan Steel (VSL, #25) is the biggest loser, down -2%, with its share price slipping -5% year-on-year. a2 Milk (ATM, #9) also drops -2%, down -5% over the past five days, though it remains up +35% year-on-year. Mercury Energy (MCY, #5) declines -1%, losing -2% year-to-date and -18% over the past year. Fletcher Building (FBU, #14) edges down -0.3%, bringing its year-on-year decline to -16%.
Vulcan Steel Limited
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.6% | -1.3% | -1.6% | -4.8% | -0.9% |
| NZ Top 10 ETF (TNZ) | +0.6% | -0.9% | -8.0% | -11.5% | -3.3% |
| S/P NZX50 ETF (NZG) | +0.7% | -1.4% | -3.4% | -6.7% | -0.2% |
| NZ Dividend ETF (DIV) | +0.4% | -1.5% | -4.1% | -5.7% | -6.6% |
KEY ANNOUNCEMENTS
The Warehouse Group’s (WHS, #49) interim results for the first half of FY25 show early signs of progress in its Fighting Fit turnaround plan. Sales declined -1.6% to $1.6b, improving from sharper declines in recent years. The company’s operating profit fell to $19.5m, down from $43m in FY24 H1, while net profit after tax improved to $11.8m, reversing a $23.7m loss from the previous year Sales trends improved through the period, with a -2.5% decline in Q1 narrowing to 0.9% in Q2, and January showing year-on-year growth. However, gross profit margins remained under pressure, falling 180 basis points to 32.5%, impacted by a competitive retail environment and price resets Chair Dame Joan Withers acknowledged the challenging conditions but highlighted progress in cost-cutting and improved sales momentum. She emphasised the need for continued focus on strengthening the business amid cautious consumer spending.
NZME has confirmed it has been in discussions with Stuff since late 2024 regarding the potential acquisition of digital and print assets from the Stuff Mastheads business. The deal aimed to boost OneRoof’s audience and revenue, particularly in Wellington and the South Island, while expanding NZME’s total customer base and profitability. However, on 6 March, Stuff paused discussions following NZME’s receipt of a proposal from JTG4 Limited regarding changes to the NZME Board. Talks are now on hold until the board’s composition is determined at the upcoming Annual Shareholders’ Meeting. NZME noted there is no certainty that discussions will resume or lead to a transaction. The company will continue to update shareholders as required.
NZX50 Consumer Goods Sector
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