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 rose 1.3% today, recovering some ground, but remains down 3.1% over the past five trading days. Year-on-year, the index is down 0.4%.
THE MAIN GAINERS
Fletcher Building (FBU, #13) led the 44 gainers, up 4% today, though still down -22% year-on-year. Channel Infrastructure (CHI) also gained 4%, and is now up a strong +23% over the past year. Infratil (IFT, #4) rose 4% as well, although remains -12% lower year-on-year, while Scales Corp (SCL, #37) added 3%, lifting its year-on-year gain to +24%.
Fletcher Building
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THE MAIN DECLINERS
Among the 29 decliners, Skellerup (SKL, #31) fell -3%, down -13% over the past five days and 7% year-on-year. Vulcan Steel (VSL, #26) dropped -2%, bringing its year-on-year decline to -15%. Oceania Healthcare (OCA, #45) also lost -2%, now down -11% year-on-year, while Genesis Energy (GNE, #17) slipped 1%, -12% lower than this time last year.
Skellerup Holdings
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +1.6% | -3.2% | -5.9% | -7.1% | -4.0% |
| NZ Top 10 ETF (TNZ) | +0.6% | -3.6% | -9.5% | -13.4% | -5.3% |
| S/P NZX50 ETF (NZG) | +1.2% | -2.6% | -6.1% | -8.3% | -2.2% |
| NZ Dividend ETF (DIV) | +1.7% | -3.5% | -7.2% | -8.0% | -9.6% |
KEY ANNOUNCEMENTS
Summerset Group (SUM, #16) reported 290 occupation right sales for the quarter ended 31 March 2025, including 132 new sales and 158 resales. Total sales were up 14% year-on-year, driven by a 31% lift in resales, while new sales were slightly down. CEO Scott Scoullar said the company had a strong February and March, and enters Q2 with a 32% year-on-year increase in contracted new sale stock. Half of all sales came from outside Auckland, Wellington, and Christchurch. Summerset remains on track to deliver 650–730 homes in 2025, including its first Australian village centre at Cranbourne North.
Channel Infrastructure (CHI, #34) advises that Chair James Miller will meet with investors over the coming week as part of the company’s 2025 Governance Roadshow. The presentation will address delivery of strategy, TSR performance, board composition and succession, executive remuneration, and ESG performance. Presentation materials are attached to the announcement.
Serko Limited (SKO, #43) will hold its 2025 Annual Shareholders Meeting at 10.00am (NZT) on Thursday, 26 June 2025, with attendance available both in-person in Auckland and online. Further meeting details will be provided in the Notice of Meeting. In accordance with NZX Listing Rule 2.3.2, the closing date for director nominations is 5.00pm (NZT) on Monday, 28 April 2025.
NZX50 Property Sector
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