TD customers focus on Gulf and take to Range

Stuart Welch, CEO, TD Direct Investing comments: "It was all change at the top of TD's most popular customer trades tables this week, with Range Resources (RRL) and Gulf Keystone Petroleum (GKP) rising from third to first in the buys and sells respectively. Our customers bought and sold at a ratio of 1.4:1 in the week ending Monday, 26 March, while the FTSE 100 closed the week at 5,902.7.

"Our customers appeared to be keen for a bargain with top buy Range Resources' share price losing nearly 20% of its value at one point during the week.  The company had announced earlier that it had entered into an agreement with the Puntland Government for a 100% working interest in the Nugaal Basin Offshore Block on 20 March. By close on Monday (26 March), Range's share price stood at 13.6p.

"Meanwhile, top sell Gulf Keystone continued to be the subject of takeover rumours as talk of the company's representatives' visit to China led to speculation that a Far Eastern oil giant could be interested in purchasing it. Gulf's share price gained just over 9p in the week ending Monday, 26 March.

"Supermarket heavyweight Tesco (TSCO) rose six places in the sells this week to second place, accounting for 12.5% of the sells. The rise came ahead of the release of market research yesterday that showed Tesco's grocery market share is still falling, while its rival Asda is at record levels.

"Premier Foods (PFD) was the highest new entry to our customers' sells table amid rumours that the company is due to sell Hartley's jams and Sarson's vinegar in order to reduce its debts. Premier Foods closed the week with a share price of 15.25p, a 32.6% increase from the previous week."