Ryman lifts as NZ sharemarket ends flat after rate‑cut rally fades

The New Zealand share market has closed up after a rally late in the day pushed it to a small gain.

Thursday, October 9th 2025, 6:54PM

by BusinessDesk

The S&P/NZX 50 Index closed up 0.02% or 2.38 points on 13,570.86 after 42.7 million shares worth $157.5m were traded.

The S&P/NZX 20 index was also flat, closing at 7,771.07 points, up 0.03%, while the S&P/NZX 10 index ended the day at 12,914.61, rising 0.20%.

There were 81 gainers and 55 decliners on the main board.

Salt Funds Management managing director Matt Goodson said that the market was “a bit directionless” after Wednesday’s excitement following the cut to the official cash rate.

“A variety of movements which are really just flow-driven. Probably one of the most interesting things is property stocks after a stellar run over the last three or four months. It could be in response to the rate cuts, but they’ve just given some of that up a little,” Goodson said.

Ryman on the move

A significant mover was Ryman Healthcare, following its second-quarter trading update, with its share price rising 3.56% or 10c to $2.91 after 1.59m shares traded on a turnover of $4.6m.

The retirement village and aged care company reported a drop in half-year sales, but says it is tracking ahead of its full-year guidance target.

Goodson said the result was satisfactory, thanks to solid new sales numbers, although he suggested that some discounting may have been necessary to achieve it.

“I think the market on the retirement village stocks at the moment is predisposed to view things through a positive lens. I think it’s hoping that 2026 will be a much better year for the housing market.

“A lift of housing turnover and house prices would boost these stocks, which have made heavy weather of their exposure to a much weaker housing market.”

Summerset Group, which rose sharply on Wednesday, gave back some of its gains, falling 2.13% or 25c to $11.50 on turnover worth $1.9m.

Fletcher Building, Mercury dip

Fletcher Building’s share price also fell 6c to $3.35, while Property for Industry fell 2.67% or 7c to $2.55.

Elsewhere, Mercury NZ saw its share price fall 18c or 2.65% to $6.60 on turnover worth $7.5m, giving back all of its gains made on Wednesday.

Uvre to list on NZX

In other news, Australian mining company Uvre announced it would be listing on the NZX next week, on Oct 16.

Goodson said the gold sector had been on the rise recently and that numerous Australian companies had been cashing in, although with minimal listed exposure in NZ.

He also acknowledged the NZ dollar, which rose slightly on Thursday after falling sharply following Wednesday's rate cut.

“It was briefly back towards A88c against the Aussie dollar, that’s A87.9c at the moment and back to US58c against the US dollar. So we’ve just seen a slight reversal of some of today’s [Thursday] moves.”

World view

Major US indices closed at record highs again on Wednesday, as markets look past the US government shutdown and focus on the artificial intelligence boom and expected Federal Reserve interest rate cuts.

The tech-rich Nasdaq Composite Index led the indices, winning 1.1% to 23,043.38.

The broad-based S&P 500 rose 0.6% to 6,753.72, also a record, while the Dow Jones Industrial Average was flat at 46,601.78.

Major indices remain near record levels, with analysts attributing this to enthusiasm about artificial intelligence and expected Federal Reserve interest rate cuts.

Gold, considered a safe investment in times of uncertainty, also reached an all-time high of nearly US$4060 an ounce on Wednesday. Silver also rose close to a record high.

– Additional reporting AFP

Tags: Market Close