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 rose +0.7% today, trimming recent losses but still down -6.0% over the past six months. The index is up only +0.8% year-on-year.
THE MAIN GAINERS
Skellerup (SKL, #33) led the 54 gainers with a 5% jump, despite falling 1% over the past five days and down 15% over the past month. Manawa Energy (MNW, #22) and SkyCity (SKC, #30) both gained 3%. Manawa is up 2% over the week and 10% year-on-year, while SkyCity is down 2% over the past five days and has shed 39% over the past year. Heartland Group (HGH, #35) also climbed 3%, rising 7% over the week, but remains down 26% year-on-year.
Skellerup Holdings
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THE MAIN DECLINERS
Among the 26 decliners, Tower (TWR, #41), Vista Group (VGL, #32), and Fletcher Building (FBU, #13) each slipped 1%. Tower remains up 63% year-on-year, while Vista has surged 89% over the same period. Fletcher continues to struggle, down 18% year-on-year. Vulcan Steel (VSL, #27) dipped 0.5% and is down 1% for the year.
Tower
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SMARTSHARES EFTs
| 1-day | 5-day | 6-month | YTD | 1Y | |
| NZ Top 50 ETF (FNZ) | +1.0% | -0.7% | -6.7% | -6.7% | -2.0% |
| NZ Top 10 ETF (TNZ) | -0.05% | +0.3% | -9.0% | -11.2% | -4.4% |
| S/P NZX50 ETF (NZG) | +0.8% | -0.1% | -7.5% | -7.5% | -1.4% |
| NZ Dividend ETF (DIV) | +0.7% | -0.4% | -10.7% | -8.4% | -8.4% |
KEY ANNOUNCEMENTS
Mercury NZ (MCY, #5) has appointed senior energy executive Catherine Thompson as its new Chief Sustainability Officer, effective 28 July 2025. With over 30 years' experience in the energy and legal sectors—including executive roles at Contact Energy and Manawa Energy—Catherine brings deep expertise in sustainability, corporate affairs, and risk management. CEO Stew Hamilton said her strong values, stakeholder skills, and leadership in transformation make her ideally suited to help position Mercury at the forefront of New Zealand’s electrification journey.
Pacific Edge (PEB) has confirmed that the US District Court for the Middle District of Pennsylvania does not have jurisdiction to review the ‘Genetic Testing in Oncology: Specific Tests’ (L39365) Local Coverage Determination. As a result, the court cannot consider the merits of Pacific Edge’s legal complaint, despite Judge Neary describing the company’s test as “a medical marvel.” The only remaining path to prevent L39365 from taking effect on 24 April is policy action by the Centers for Medicare and Medicaid Services (CMS), which has the authority to delay or retire the decision. Pacific Edge says it has made its case to relevant US officials and will continue to monitor the situation closely.
Downer EDI (DOW) has completed the sale of its remaining 29.9% stake in its laundries business to a Macquarie Asset Management-managed private equity fund, marking its full exit from the sector. The business—operating as Linen Services Australia, Ensign, and Taylors Laundries in New Zealand—was previously 70.1% sold to Adamantem Capital in 2021. Downer will receive pre-tax proceeds of approximately $64m. CEO Peter Tompkins said the sale supports Downer’s focus on portfolio simplification and strengthens the balance sheet, enabling greater flexibility for capital allocation.
Spark Finance (SPK, #12) the funding arm of Spark New Zealand, has extended the term of its NZ$200m committed standby revolving credit facility by one year, with the new maturity date set for 30 April 2028.
NZX50 Energy Sector
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