TD clients focus on Barclays
Stuart Welch, CEO, TD Direct Investing comments: "Top Ten trading among TD clients increased by almost 72% overall in the week ending Monday 2 July as the FTSE 100 staged a mini rally, closing the week up 3.5% at 5,640.64 - although it has been edging down in early trading this morning.
"Barclays Plc (BARC) was the key focus for our clients, accounting for almost half (48.4%) of the top ten buys and almost one fifth (18.7%) of the top ten sells. The buy:sell ratio was 4.7:1 amid news the bank had been fined £290 million for trying to manipulate the interbank lending rate LIBOR (London Interbank Offered Rate).
"Another popular trade this week was Aviva Plc (AV.), which took sixth place in the buys table and was a new entrant in eighth place on the sells table, with a buy:sell ratio of 1.5:1. Aviva's share price rose 13p during the week to close at 278.8p on Monday (2 July) as our clients appeared keen to trade the insurer ahead of its strategic review this Thursday (5 July).
"Meanwhile, Avocet Mining Plc (AVM) entered the buys table in joint eighth place, after its share price dropped almost 50% during the week. The gold miner closed at 77.1p on Monday (2 July) following an announcement that it has cut its production outlook for the full year, citing equipment availability issues and lower recoveries and processing rates at its Inata mine in Burkina Faso, Africa.
"Elsewhere, Yell Group Plc (YELL) entered the sells table in ninth place with TD clients seemingly taking advantage of the near 20% increase in the digital service provider's share price, which closed the period (Monday 2 July) at 1.6p."
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