The S&P/ASX 200 declined 1.4% for the week, led lower by the materials sector in response to a sharp drop in commodity prices. Financial stocks also declined heavily.
- The S&P 500 gained 0.6%, while the EURO STOXX 50 added 2.8% on further optimism of a Macron victory in the French election. Four of the five top performing ETFs for the week were European focused, with the top performer being ETFS EURO STOXX 50 ETF (ESTX), which returned 5.2% for the week.
- The Australian dollar declined 0.9% last week. The euro gained 1.0% and 1.8% against the US and Australian dollars respectively, nearing its highest levels since last September against the Aussie.
- WTI crude declined 6.3%, iron ore dropped 10.3% and precious metals also saw big declines.
- The Australian ETF market saw inflows of A$103m and outflows of A$19m from domestically domiciled ETFs. The largest inflows were into broad-based Australian equity funds (STW, QOZ and MVW)
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