TD Waterhouse customers soar into orbit on satellite play
Darren Hepworth, Trading and Customer Services Director, TD Waterhouse comments: "The FTSE finished November down 2.6% with the potential threat of government bailouts hanging over the heads of Portugal and Spain. However, TD Waterhouse customers continued to take advantage of the weak market as buys outnumbered sells by almost 2:1.
"Worries over sovereign debt in Ireland, Portugal and Spain ensured that financial stocks remained under pressure last week and on the back of this Aviva (AV) entered the top ten buys in 5th position. Aviva shares rallied on Monday (29 November) following European Union finance ministers endorsing a total bailout package of EUR85bn for Ireland late the previous evening. However, the insurer's shares steadily declined over the rest of the week closing on Tuesday at 361.5p with further warnings from Standard & Poor's, the rating agency that the Irish subsidiaries of several large insurers, including Aviva, were at risk of a downgrade.
"Broadband satellite operator Avanti Communications (AVN) entered both the buys (7th) and sells (9th) this week with the AIM listed company's shares surging after the announcement of the launch of its multi million pound HYLAS 1 satellite from French Guiana on Friday, 26 November. The shares rose to 725p on Monday following the news that the satellite had made it into orbit.
"Meanwhile the oil sector continued to be a popular play for our customers as exploration stocks peppered both the buys and sells tables this week. Falkland explorer Desire Petroleum (DES) entered the buys table in 3rd place and also climbed to 3rd in the sells. This followed mixed news from the company's new well, its Rachel prospect, which reached its target depth this week but shares then fell following market rumours of a disappointing result. Concurrently Regal Petroleum (RPT) entered the buys table for the first time this month as shares for the Ukraine focused oil and gas company soared on the back of takeover approaches from unnamed suitors. The talk boosted the AIM listed company which has currently had to suspend production in the Ukraine while it resolves a dispute with the government's environmental agency."