Top 20 NZX trades by Sharesight users – February 2024

Welcome to the February 2024 edition of Sharesight’s monthly NZX trading snapshot, where we look at the top 20 trades Sharesight users made on the NZX during the month.

In this snapshot, trades were strongly led by Smartshares’ US 500 (NZX: USF) and NZ Top 50 (NZX: FNZ) ETFs. In terms of individual stocks, the top trades were led by Air New Zealand (NZX: AIR), which attributed its declining profit to inflation, supply chain issues and problems with GTF engines that power its A320neo planes. It was an ETF-heavy month overall, with 14 of the top 20 trades belonging to ETFs.

Top 20 NZX trades February 2024

Let’s look at the news behind the key stocks in this month’s snapshot:

Air NZ (NZX: AIR)

• NZ government renews Air NZ partnership with Singapore Airlines
• Air NZ blames post-COVID inflation, supply chain issues and engine problems for profit decline
• Air NZ and Auckland Airport continue to quarrel over multi-billion dollar redevelopment

Fletcher Building (NZX: FBU)

• Fletcher Building denies equity raise plans
• Fletcher’s CEO and chairman to step down
• Fletcher faces downgrade following huge first-half loss

Genesis Energy (NZX: GNE)

• Genesis Energy’s half-year profit plunges 73%
• Announces reduced dividend following disappointing earnings
• Genesis CFO announces resignation

Heartland Group (NZX: HGH)

• Heartland profit falls due to one-off costs and slowed lending
• Share price rises despite decline in profit

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FURTHER READING

• Subscribe to Sharesight20 trading snapshots
• How Sharesight calculates your investment performance
• Top 20 NZX trades by Sharesight users – January 2024