Banking has experienced the largest ETF fund inflow of any sector during the last seven days, a total of $75 million (£47 million).

Banking has experienced the largest ETF fund inflow of any sector during the last seven days, a total of $75 million (£47 million).

Media had the second highest inflows during the subject period, with $36.4 million, BlackRock has reported.

Overall, the DJ STOXX 600 sector ETFs realised a net outflow of $24.6 million, with the largest outflow occurring in basic resources - $92.9 million.

Over the year-to-date, utilities have been the most popular sector on the market, gaining $176.4 million in net new assets, although oil and gas and food and beverage industries are also performing well.

BlackRock reported: "The assets invested in the ETFs are greater than the open interest in the corresponding futures contract in 18 out of 19 sectors."

The Manufacturing ISM Report on Business for the US market recently identified leather and allied products as the best-performing manufacturing sector last month, ahead of textile mills and machinery.