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Weekly wrap Aug. 18, 2017: Lightly-traded markets retreat with focus on geopolitics
9/26/2017 5:53:35 PM
HOME : FEATURES : COLUMNS : Weekly wrap Aug. 18, 2017: Lightly-traded markets retreat with focus on geopolitics
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By Fund Library News Wire  | Friday, August 18, 2017


 

By Mike Keerma

* Lightly-traded markets retreat with focus on geopolitics.
* BMO launches two new international funds.

* Lightly-traded markets retreat with focus on geopolitics.
The S&P/TSX Composite Index, Canada’s broad equity benchmark, lost -0.5% on the week, tracking losses on the U.S. blue-chip S&P 500 Composite gauge (down -0.7%) and the technology-weighted Nasdaq Composite Index, which retreated -0.6%, its fourth consecutive weekly loss. With typically lower summertime volumes prevailing, and a lack of any significant economic news or data, markets took their cues from geopolitical events, including the terrorist attacks in Spain last week and the resignation of U.S. President Trump’s strategist Stephen Bannon on Friday. North Korean tensions, meanwhile, have faded as President Kim Jong Un backed down on threats to launch missiles at the U.S. territory of Guam. While the price of crude oil jumped on Friday as the U.S. dollar weakened, oil still registered a -0.4% loss on the week, while gold, whose price tends to climb as a safe-haven asset in times of crisis, edged up through mid-week, but retreated during Friday’s session, closing the week with a -0.3% loss overall.

FUND NEWS

* BMO launches two new international funds. BMO Investments Inc. announced two new funds it says are designed to help investors diversify sector exposures and offset Canadian market concentration.

BMO International Equity Fund aims to provide exposure to international equity markets, which BMO says in its release “are expected to continue to rebound based on accommodative monetary policy and lessening political risks.”

BMO Japan Fund provides access to Japanese stock markets, which BMO says “are expected to benefit from stronger export-stimulated economic growth.”

Check Fund Library’s Market Activity page regularly for active updates on key market indexes and commodities.

@FundLibrary – Follow Fund Library on Twitter for daily information and updates.

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The foregoing is for general information purposes only and is the opinion of the writer. No guarantee of investment performance is made or implied. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice.

 
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