The S&P/ASX 200 gained 1.5% for the week, with banks and miners driving performance upwards despite some disappointing earnings announcements. Financial sector funds (MVB, QFN and OZF) were the top performing unleveraged ETFs for the week. The S&P 500 gained 1.5% and the EURO STOXX 50 rose 1.2%, while the Nikkei 225 ended the week 0.7% lower. The MSCI Emerging Markets Index continued to trend upwards, having gained 8.9% in US dollar terms so far in 2017.
Gold gained 1.1%, rising for the seventh week out of the past eight. Iron ore jumped 4.3% mirroring the optimism seen in the resources sector.
The Australian dollar remained close to 3 month highs despite retreating back below US77c to end the week.
The The Australian ETF market saw inflows of A$71m and outflows of A$44m from domestically domiciled ETFs. The largest in- and out-flows were from domestic equity ETFs (into MVW and out of STW), while smaller inflows were spread across a range of asset classes.
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