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 rebounded strongly today, rising +1.4%. While the index remains down -6.2% over the past six months, it is now up +1.7% year-on-year.
THE MAIN GAINERS
A total of 52 stocks posted gains. Mainfreight (MFT, #9) led the market, jumping +5% despite a -2% dip over the past five days and a -17% decline year-on-year. Gentrack (GTK, #25) followed with a +4% rise, now up +31% year-on-year. Spark (SPK, #12) also climbed +4%, gaining +5% for the month, although still down -56% from this time last year. Heartland Group Holdings (HGH, #35) gained +3%, up +7% over the past five days, but remains down -25% year-on-year.
Mainfreight
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THE MAIN DECLINERS
On the downside, 26 stocks fell. The Warehouse (WHS, #49) was the worst performer, down -4%, having lost -7% this month and -41% over the past year. Ryman Healthcare (RYM, #17) dropped -2%, down -7% in the past week and -39% year-on-year. Summerset (SUM, #16) dipped -1%, with its share price flat over the year. NZX (NZX, #40) edged down -0.3% today but remains up +31% year-on-year.
The Warehouse Group
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +0.6% | -1.2% | -7.4% | -7.1% | -2.0% |
| NZ Top 10 ETF (TNZ) | +2.2% | -0.9% | -8.7% | -11.3% | -3.0% |
| S/P NZX50 ETF (NZG) | +2.0% | +0.1% | -6.8% | -7.5% | +0.2% |
| NZ Dividend ETF (DIV) | +0.5% | +0.5% | -9.4% | -7.8% | -7.0% |
KEY ANNOUNCEMENTS
Vector (VCT, #11) has reported steady growth in its Auckland electricity and gas networks for the nine months ended 31 March 2025, with electricity network connections rising +1.3% year-on-year to 630,004 and gas connections up +0.3% to 120,644. However, new electricity connections fell -23.0% and new gas connections dropped -30.0% compared with the same nine-month period last year, reflecting a broader economic slowdown. Electricity distributed volumes were down -1.5%, with residential demand falling -2.5% and business volumes down -0.8%. Gas distribution volumes declined -9.3%, driven by lower demand across residential, industrial, and commercial sectors. Following the sale of its LPG and gas trading businesses, Vector is no longer reporting results for those operations. SAIDI minutes for normal operations improved, with unplanned outages down -22.4% and planned outages down -10.0% from the prior year, remaining within regulatory thresholds. All figures remain subject to audit.
TradeWindow has delivered a strong finish to FY25, achieving $8 mln in trading revenue - a +30% year-on-year increase and above the midpoint of guidance. Annual Recurring Revenue rose +38% to $8.7m, driven by customer growth and cross-selling, particularly in Australia. The company reached monthly EBITDA break-even in March 2025, with gross margin improving to 61% and productivity nearly tripling since FY23. Despite a dip in customer retention to 87%, the focus on higher-value clients continues to support sustainable growth. Looking ahead, TradeWindow is developing an AI-enabled freight operating system targeting freight forwarders and customs brokers, positioning itself to lead digital transformation in global trade amid shifting trade dynamics and rising demand for compliance-driven solutions. Full-year results and FY26 guidance will be announced by the end of May 2025.
NZX50 Energy Sector
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