Daily NZX update, Tuesday, November 5, 2024

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 NZX50 INDEX IS DOINGThe NZX50 saw minimal movement today with a modest gain of just +0.1%, bringing its year-on-year increase to +11.9%.

THE MAIN GAINERSCurrently, 30 stocks are gaining in the listed equity market. Leading the gainer is Air New Zealand (AIR, #21) with an increase of +1.9%, though it remains down -18.5% year-to-date and -22.1% year-on-year. Precinct Properties (PCT, #19) and Hallenstein Glassons (HLG, #42) both follow closely, each up +1.6% today. Despite a -2.3% dip over the past month, Precinct Properties has gained +8.7% year-on-year. Scales Corporation (SCL, #38) also rose, gaining +1.3% for the day, bringing its six-month performance to a robust +23%, and +27% year-on-year.

THE MAIN DECLINERSThe market currently has 39 decliners, with a2 Milk (ATM, #10) leading the losses, down -2.9% for the day. Despite a monthly decline of -14.5%, the company still enjoys a strong year-to-date gain of +34% and an impressive +39% increase year-on-year. Oceania Healthcare (OCA, #39) follows closely, declining -2.5% today but boasting a remarkable +44% gain over the last six months, bringing its year-on-year increase to +11.3%. The NZX (NZX, #43) is down -1.4%, yet it has gained +37% for the year. Freightways (FRW, #20) also declined -1.2% but maintains a +28% year-on-year increase.

SMARTSHARES EFTs

KEY ANNOUNCEMENTSArgosy Property (ARG, #34) has confirmed it will release its Interim Financial Results for the six months ending 30 September 2024 on Wednesday, 20 November 2024. The results, along with financial statements and presentation slides, will be filed with the NZX before the market opens. A 30-minute conference call and webcast will follow at 10 a.m. NZT on the same day.

Westpac CEO Peter King has announced the retirement of Christine Parker, Group Executive of Human Resources, after a dedicated 17-year tenure. Parker joined Westpac in 2007 as General Manager, People at Westpac New Zealand, and was appointed Group Executive, Human Resources in Sydney in 2011. "Christine has been a valued mentor and leader for generations of Westpac employees," said CEO Peter King. "She is a passionate advocate for advancing women in the workforce, driving meaningful change for our female leaders both professionally and personally. Christine has also been instrumental in fostering positive cultural transformation across Westpac.”

The NZX monthly shareholder metrics were released today for October 2024, the NZX Main Board reported 121 equity issuers, a -4.7% decrease from October 2023. Total equity market capitalisation reached $164.2m, reflecting a +15.2% rise from this month last year and is +39.7% of the GDP. Trading activity surged with a total of 959,038 trades, up +34.3% year-on-year. The value traded was $3.4 million, marking a significant +79.9% increase from October 2023. On-market trades made up 61.3% of the total traded value, a -12.1% year-on-year decrease, with the average on-market trade size rising to $2,182, up +17.8%.

Synlait Milk Limited’s Annual Meeting will take place on Wednesday, 4 December at 1:30 p.m. NZT, accessible both in person at Synlait’s Dunsandel facility in Canterbury and online via www.meetnow.global/nz. Shareholders will vote on three resolutions: the election of George Adams as Director, the election of Sihang Yang (Edward) as Director, and authorisation for the Board to set the auditor’s fees and expenses for the coming financial year. Further details are available in the Notice of Meeting and Proxy Forms found on the announcement posted to the NZX.

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