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Asia

New Zealand Shares Rise; Genesis Energy Secures Additional Gas Supply Through 2029

New Zealand shares closed up on Wednesday after the New Zealand central bank hiked its cash rate.The S&P/NZX 50 Index rose 1.04% or 143.67 points to close at 13,930.57.On Tuesday, the Nasdaq Composite fell 1%, the Dow Jones declined 0.8%, and the S&P 500 fell 0.7%.The US conducted fresh attacks on Iran, pushing Brent crude oil futures up to trade around $95 per barrel.In domestic news, the Reserve Bank of New Zealand (RBNZ) said its monetary policy committee decided by consensus to raise the official cash rate by 25 basis points to 2.75% on Wednesday.Also, New Zealand's seasonally adjusted new dwellings consents fell 4.3% to 3,339 in July from 3,487 in the previous month, according to Stats NZ data.In corporate news, Genesis Energy (ASX:GNE, NZE:GNE) secured 11.4 petajoules of additional third-party gas supply for March 2027 to December 2029, plus up to 8.6 petajoules of Kupe gas for January 2027 to December 2028, subject to documentation and ministerial approval.Mercury (ASX:MCY, NZE:MCY) said Kevin Taylor, its chief operating officer, generation, advised the board of his intention to retire from the role and will leave the company at the end of the year.

^NZ50ASX:GNEASX:MCYNZE:GNENZE:MCY
Asia

Mercury COO to Retire

Mercury (ASX:MCY, NZE:MCY) said Kevin Taylor, its chief operating officer, generation, has advised the board of his intention to retire from the role and will leave the company at the end of the year, according to a Wednesday filing with the New Zealand bourse.

ASX:MCYNZE:MCY
Asia

New Zealand Shares Rise; Vector Fiscal 2026 Earnings, Revenue Up

New Zealand shares ended higher while most Asian shares saw losses after Monday's Wall Street sell-off and an intensifying US-Iran situation.The S&P/NZX 50 Index rose 1.05% or 144.20 points to close at 13,866.18.Overnight, the S&P 500 fell 0.5%, the Nasdaq lost 0.3%, while the Dow Jones was down 0.5%.Iran would adopt a "fully offensive" military posture as peace negotiations with the US have stalled, while Washington ruled out extending a temporary ceasefire, according to a Monday Reuters report, citing a senior Iranian official.In domestic news, the Reserve Bank of New Zealand (RBNZ) is exploring ways to modernize the country's outdated retail payments system, which handles an annual payments volume of around NZ$2 trillion, the central bank said.Also, Brent crude oil is expected to ease to an average of $83 in the September quarter and to continue to decline to $80 by the March quarter 2027, Westpac said.In corporate news, Vector (NZE:VCT) logged NZ$0.24 in earnings per share for fiscal 2026, compared with NZ$0.167 a year ago.Mercury NZ (ASX:MCY, NZE:MCY) logged NZ$0.2266 in earnings per share for fiscal 2026, compared with NZ$0.0007 a year ago.

^NZ50ASX:MCYNZE:MCYNZE:VCT
Asia

Mercury NZ Fiscal 2026 Earnings Up, Revenue Down

Mercury NZ (ASX:MCY, NZE:MCY) logged NZ$0.2266 in earnings per share for the fiscal 2026, compared with NZ$0.0007 a year ago, a Tuesday filing showed.Analysts polled by FactSet expected earnings of NZ$0.29.For the 12 months ended June 30, revenue was NZ$3.22 billion versus NZ$3.5 billion previously, the dual-listed renewable energy generator added. Analysts surveyed by FactSet expected NZ$3.19 billion.The board declared a final dividend of NZ$0.17 per share, up from NZ$0.144 a year earlier, payable Sept. 30 to shareholders on record as of Sept. 3.The company expects fiscal 2027 earnings before interest, taxes, depreciation, amortization, and fair value adjustments of NZ$1.08 billion and a dividend of NZ$0.29.

ASX:MCYNZE:MCY
Asia

NZX Most Active Stocks

Here are the most actively traded stocks on New Zealand's Exchange on Friday.Pacific Edge (NZE:PEB): 1.6 million sharesSantana Minerals (NZE:SMI): 926,234 sharesFletcher Building (NZE:FBU): 776,435 sharesMercury (NZE:MCY): 640,024 sharesGoodman New Zealand & Goodman Property Services (NZE:GNZ): 591,798 shares

^NZ50NZE:FBUNZE:GNZNZE:MCYNZE:PEBNZE:SMI
Asia

Mercury Says S&P Global Ratings Affirms 'BBB+' Rating

Mercury (ASX:MCY, NZE:MCY) said S&P Global Ratings has reaffirmed its corporate credit rating at "BBB+" with a stable outlook, according to a Friday filing with the New Zealand and Australian bourses.

ASX:MCYNZE:MCY
Asia

New Zealand Advocacy Groups Call for Separation of Gentailers' Retail, Generation Operations

The Auckland Business Chamber and advocacy group Northern Infrastructure Forum on Tuesday called for the separation of the generation and retail operations of New Zealand's major energy companies, saying that the proposal will help boost competition in the retail market.The proposal is part of a two-step plan for the domestic energy market's reform, which also includes the establishment of long-term energy supply agreements for generation to enable independent projects to bypass the firming barrier.The parties said New Zealand has the potential to grow its economy by NZ$30 billion annually if it can bring on an additional 20 terawatt-hours of supply.This will require policymakers to resolve structural issues related to market concentration, with four gentailers controlling 85% of the country's generation and 95% of firming, or back-up supply, as well as their vertically integrated model where generation and retail arms operate as a single, integrated business."Concentration on the generation side incentivizes gentailers to hold back new supply, because additional supply will bring down prices and reduce income from existing assets," said Auckland Business Chamber CEO Simon Bridges.The proposal to separate generation and retail operations does not represent a structural break-up as it does not involve forced asset sales, said Northern Infrastructure Forum Executive Director Barney Irvine."It simply means the internal deal-making that currently keeps the contracts market illiquid is replaced by real market trading," Irvine added.In a response to' request for comment, the industry organization Electricity Retailers & Generators NZ, or ERGANZ, said that "any reforms should ultimately be judged against whether they improve affordability and reliability of the energy system."

ASX:CENASX:GNEASX:MCYASX:MEZNZE:CENNZE:GNENZE:MCYNZE:MEL
Asia

Mercury Acquires Nearly 13% of Datagrid in $30 Million Investment

Mercury (ASX:MCY, NZE:MCY) acquired a 12.7% stake in Datagrid Holding Group through a $30 million investment, supporting the development of a planned 360-megawatt large-scale data center in Southland, according to a Thursday filing with the New Zealand and Australian bourses.The investment, funded through existing capital facilities, builds on the company's 140-megawatt power purchase option agreement signed in March and supports its strategy to meet long-term renewable electricity demand, per the filing.The project has secured resource consent, with a final investment decision anticipated later this year, the filing said.

ASX:MCYNZE:MCY
Asia Markets

New Zealand Shares Rise; Mercury Posts Lower Fiscal Q4 Gas Sales

New Zealand shares ended higher on Wednesday as Asian markets followed Wall Street's Tuesday rally.The S&P/NZX 50 Index rose 0.78% or 107.15 points to close at 13,763.18.On Tuesday, the Nasdaq Composite gained 1.3%, the S&P 500 added 0.9% while the Dow Jones advanced 0.7%.In domestic news, a total of 26,889 metric tonnes (MT) of products were sold during the Global Dairy Trade (GDT) auction held on Tuesday, with supply ranging from 24,745 to 30,422 MT, according to data from the trading platform.Also, credit card spending in New Zealand decreased by 1.3% month on month to NZ$4.37 billion in June after a 1.9% increase in the previous month, while credit card balances fell 0.4% to NZ$5.97 billion in June, data from the Reserve Bank of New Zealand showed.In corporate news, Mercury (ASX:MCY, NZE:MCY) reported fiscal fourth-quarter gas sales of 488 gigawatt-hours (GWh) at a volume-weighted average price of NZ$36.1 per megawatt-hour (MWh), down from 501 GWh at NZ$31.3/MWh a year earlier.New Zealand Rural Land's (NZE:NZL) board reaffirmed the suspension of its fiscal 2026 earnings guidance.

^NZ50ASX:MCYNZE:MCYNZE:NZL
Asia

Awareness of Power Support Services Grows in New Zealand, Electricity Authority Says

New Zealand's Electricity Authority on Wednesday published a post-implementation review that found increasing awareness of services that help consumers with utility disputes and price comparisons following measures implemented in 2021.The review showed that the majority of retailers and distributors are in compliance with requirements in the country's Electricity Industry Participation Code, making information about the support services generally available to consumers.Although awareness of dispute resolution services is still relatively low, there are signs of improvement as the latest Utilities Disputes annual report pointed to a 62% year-over-year increase in complaints, the Electricity Authority said.It added that retailers will be required to furnish information about utilities disputes on power bills starting from Oct. 30, as opposed to providing it only with billing communications.The review further found that roughly 60% of consumers are familiar with comparison and switching services, but awareness is lower among modest-income households.The New Zealand-listed shares of Genesis Energy (ASX:GNE, NZE:GNE) and Mercury NZ (ASX:MCY, NZE:MCY) were marginally lower in recent Wednesday trade, while Contact Energy (ASX:CEN, NZE:CEN) fell 2% and Meridian Energy (ASX:MEZ, NZE:MEL) shed past 1%.

ASX:CENASX:GNEASX:MCYASX:MEZNZE:CENNZE:GNENZE:MCYNZE:MEL
Asia

Mercury Posts Lower Fiscal Q4 Gas Sales

Mercury (ASX:MCY, NZE:MCY) reported fiscal fourth-quarter gas sales of 488 gigawatt-hours (GWh) at a volume-weighted average price of NZ$36.1 per megawatt-hour (MWh), down from 501 GWh at NZ$31.3/MWh a year earlier, according to a Wednesday filing with the New Zealand and Australian bourses.Gas costs in the three months ended June 30 fell to 488 GWh at NZ$20.1/MWh, compared with 501 GWh at NZ$14.7/MWh in the prior corresponding period.Electricity connections rose to 590,000, up from 581,000 a year earlier, while gas and liquefied petroleum gas connections decreased to 109,000 from 110,000.

ASX:MCYNZE:MCY
Asia

Mercury Chief Strategy, Transformation Officer Resigns

Mercury (ASX:MCY, NZE:MCY) said that Chief Strategy and Transformation Officer Craig Neustroski resigned and will leave the company at the end of July, according to a Tuesday filing with the New Zealand and Australian bourses.

ASX:MCYNZE:MCY
Asia

NZX Biggest Gainers

Here are the NZX-listed companies with the biggest gains on Friday.a2 Milk Company (NZE:ATM): +11%, NZ$7.29Santana Minerals (NZE:SMI): +6%, NZ$0.67Scott Technology (NZE:SCT): +3%, NZ$2.82Heartland Group Holdings (NZE:HGH): +3%, NZ$1.23Fletcher Building (NZE:FBU): +3%, NZ$3.19EBOS Group (NZE:EBO): +3%, NZ$21.25Ryman Healthcare (NZE:RYM): +3%, NZ$2.33Spark New Zealand (NZE:SPK): +3%, NZ$1.95Mercury NZ (NZE:MCY): +2%, NZ$6.92Sky Network Television (NZE:SKT): +2%, NZ$3.18

^NZ50NZE:ATMNZE:EBONZE:FBUNZE:HGHNZE:MCYNZE:RYMNZE:SCTNZE:SKTNZE:SMINZE:SPK
Asia

New Zealand Regulator Imposes New Rules on Top Energy Companies to Boost Competition in Electricity Sector

New Zealand's Electricity Authority on Tuesday imposed non-discrimination obligations on the country's four largest energy companies in a bid to level the playing field for hedging contracts in the electricity sector.Under the new rules, which are effective from July 1, Contact Energy (NZE:CEN, ASX:CEN), Genesis Energy (NZE:GNE, ASX:GNE), Mercury (NZE:MCY, ASX:MCY), and Meridian Energy (NZE:MEL, ASX:MEZ) will be required to provide risk management contracts to all buyers on an even-handed basis. This will prevent the companies from favoring their own retail divisions on price or non-price terms.The four power generation-retailer, or gentailer, firms will need to furnish compliance plans to the Authority each year, and also submit six-monthly assessments justifying their retail price offers relative to their expected cost of electricity supply.Electricity Authority Acting Chair Erik Westergaard said the new rules will boost competition, enhance transparency, and can be implemented quickly without a material cost increase for gentailers.Shares of all four companies rose less than 1% in recent Tuesday trade on the New Zealand bourse.

ASX:CENASX:GNEASX:MCYASX:MEZNZE:CENNZE:GNENZE:MCYNZE:MEL
Asia

Mercury Targets Up to NZ$1 Billion Investment to Scale Geothermal Platform

Mercury (ASX:MCY, NZE:MCY) is set to invest up to NZ$1 billion in its next growth phase as the company scales up its geothermal platform, according to Thursday filings with the Australian and New Zealand bourses.The company has committed NZ$75 million to geothermal appraisal drilling for projects at Ngā Tamariki and Rotokawa in New Zealand to add 1 terawatt-hour of new geothermal generation, with first generation targeted for 2030.Mercury said it is funding the initiative from its balance sheet and expects the investment to be value accretive.The company's shares in the New Zealand bourse fell 2% in recent trade.

ASX:MCYNZE:MCY
Asia

Mercury Posts Lower Fiscal Q3 Gas Sales; Raises Fiscal 2026 Outlook

Mercury (ASX:MCY, NZE:MCY) reported fiscal third-quarter gas sales of 278 gigawatt-hours (GWh) at a volume-weighted average price of NZ$41.05 per megawatt-hour (MWh), down from 286 GWh at NZ$34.24 per MWh a year earlier, according to a Wednesday filing with the Australian and New Zealand bourses.Gas costs in the three months ended March 31 fell to 278 GWh at NZ$18.03 per MWh, compared with 287 GWh at NZ$15.68 per MWh in the prior corresponding period.Electricity connections rose to 586,000 from 583,000 a year earlier, while gas connections increased to 109,000 from 108,000.The company increased its fiscal 2026 earnings before interest, taxes, depreciation, amortization, and fair value adjustments guidance to NZ$1.05 billion from NZ$1 billion, citing disciplined portfolio management and stronger-than-expected renewable generation from hydro and new assets.

ASX:MCYNZE:MCY
Asia

NZX Biggest Losers

Here are the NZX-listed companies with the biggest losses on Friday.Mercury NZ (NZE:MCY): -1%, NZ$6.60Freightways Group (NZE:FRW): -1%, NZ$12.28Infratil (NZE:IFT): -1%, NZ$12.03Contact Energy (NZE:CEN): -1%, NZ$9.39Meridian Energy (NZE:MEL): -0.7%, NZ$5.66Summerset Group Holdings (NZE:SUM) -0.5%, NZ$8.55Port of Tauranga (NZE:POT): -0.5%, NZ$7.93Fisher & Paykel Healthcare (NZE:FPI): -0.3%, NZ$38.36

^NZ50NZE:CENNZE:FPHNZE:FRWNZE:IFTNZE:MCYNZE:MELNZE:POTNZE:SUM

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