The S&P/ASX 200 ended the week up 0.4%, led higher by the energy and industrials sectors. Offshore, the S&P 500 gained 1.4% and the EURO STOXX 50 declined 0.2%. In Asia, the Nikkei 225 gained 0.5%, while the FTSE China 50 added 2.8% and Korea's KOSPI 200 jumped 3.0%. Chinese and Korean equity funds (IKO, CETF and IZZ) were amongst the top performers for the week.
Currency markets were relatively unchanged last week, with the Australian dollar ending marginally lower at US74.5c. The pound sterling declined after polls narrowed in the lead up to next month's UK election.
WTI crude advanced early in the week before pulling back on Friday after OPEC announced lower than anticipated production cuts. Gold and silver gained 1.0% and 3.1% respectively. ETFS Physical Silver (ETPMAG) was the top performing commodity fund for the week. Iron Ore declined 7.6%.
The Australian ETF market saw inflows of A$55m and outflows of A$1m from domestically domiciled ETFs. The largest inflows were into domestic equity funds (QOZ and MVW).