ETFs: Appetite for oil and gold producers

Oil price jump and gold price rally lead to increased purchases of shares in oil and gold producers. However, as almost always, MSCI World ETFs are the top sellers.

11 April 2023. FRANKFURT (Börse Frankfurt). The good development on the stock market ensures turnover in ETF trading and a clear buyer overhang. "Despite the holiday, turnover was as high as in a normal week," reports Frank Mohr of Société Générale, referring to Holy Week. The reason was probably also the start of April and the new quarter. "That's when a lot of savings plans are executed."

The DAX has long since recovered the losses from March. At noon on Tuesday, the first trading day after the Easter weekend, the index stands at 15,680 points, close to its high for the year. With a gain of 11.6 percent since the beginning of the year, the DAX has outperformed the S&P 500, with the index coming in at "only" 7.5 percent. The Nasdaq 100, however, has performed even better with plus 20 percent.

"Purchases clearly predominate"

In ETF trading, MSCI World and S&P 500 products once again dominate the major indices. According to Mohr, half of the turnover last week was in world trackers, primarily the iShares Core MSCI World (IE00B4L5Y983), which now has 44 billion euros under management. "Buying clearly prevailed," he said.

Also in demand: MSCI World trackers from Amundi (LU1681043599), MSCI ACWI ETFs with SRI filters from UBS (IE00BDR55471) and S&P 500 ETFs from Invesco, SPDR and iShares. Torben Bendt, who trades index trackers at Lang & Schwarz, reports many inflows into the Vanguard FTSE All-World (IE00BK5BQT80). Asian stocks are again more likely to be found on the sell lists, for example with the HSBC Hang Seng Tech (IE00BMWXKN31).

Consumer goods stocks: conspicuously high interest

According to Mohr, trading in sector ETFs revolves around consumer staples. A lot of buying is going on in the Xtrackers MSCI World Consumer Staples (IE00BM67HN09) and the SPDR S&P US Consumer Staples Select (IE00BWBXM385), for example. "You don't see that very often." Mohr also reports inflows to stocks in the technology, financial and energy sectors.