Equity markets were mixed last week, with promising economic data being offset by lingering political and policy tensions and stock specific news.
- The S&P/ASX 200 declined by 0.1%, while the S&P 500 added 0.7%. Emerging markets performed strongly, with iShares China Large-Cap ETF (IZZ) and iShares MSCI BRIC ETF (IBK) being amongst the top performers for the week. Resource sector equities also posted strong gains with MVR, QRE and OZR all returning in excess of 3%.
- The Australian dollar ended the week relatively unchanged above US79c. The euro was the big mover for the week, adding 1.4% against the US dollar as the ECB declined to comment on concerns around the strength of the currency.
- Gold and silver made small gains, while WTI crude declined by 1.3%. The Bloomberg Industrial Metals Commodity index gained 1.8% for the week.
- The Australian ETF market saw inflows of A$127m and outflows of A$39m from domestically domiciled ETFs last week. Inflows were mainly broad-based equity funds (STW, IHVV and QUAL) and cash products (QPON and ISEC). Outflows were for domestic yield (HVST) and high interest cash (AAA) ETFs as well as short and leveraged funds (GEAR, BBOZ and BEAR).
Chart of the week
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