TD clients diversify as Lloyds tops tables again
Stuart Welch, CEO, TD Direct Investing comments: "TD clients appeared to diversify this week, with new entrants across our tables coming from a variety of sectors, including resource, energy, retail and financial. However for the third week running, Lloyds Banking Group (LLOY) took pole position as TD clients' most popular buy and sell, accounting for nearly one fifth (18%) of the top ten overall trades as speculation continued that it is close to sealing a deal to sell 630 of its branches to the Co-operative Group. Meanwhile, the FTSE 100 dropped slightly in the week ending Monday 25 June to close at 5,450.65.
"While Lloyds remained at the top of our tables this week, the eight new entries included oil and gas explorer Max Petroleum (MXP), which took ninth place in both the buys and sells tables this week, with a buy:sell ratio of almost 2:1. Its share price dropped 59% during the period, following an announcement that drilling at its NUR-1 exploration well would be delayed due to technical problems.
"Vedanta Resources (VED) entered the buys table in 10th place. The miner's share price peaked at 1,005p during the week, before falling to close at 900.50p on Monday (25 June) following news that two of Vedanta's Indian subsidiaries would be merged to form a new company.
"Elsewhere, Dixons Retail (DXNS) occupied eighth place in the sells table, after the electrical goods retailer posted a 17% fall in profits to £70.8 million in 2011-12. Dixons said that while profits had been boosted through sales of Apple's new iPad, it was still planning to close some stores in the UK due to the uncertain economic climate in Europe."