Man up in buys as TD clients chance ARM
Stuart Welch, CEO, TD Direct Investing comments: "Man Group Plc (EMG) took top spot in TD clients' most popular buys table this week and was one of seven stocks that appeared in both the buys and sells tables. The hedge fund manager, which finished the week at sixth in the sells, held a buy:sell ratio of 1.7:1 ahead of reports yesterday that client outflows reached £620m in the first three months of the year. The overall buy:sell ratio finished the week ending Monday, 30 April at 1.25:1 as the FTSE 100 increased slightly to close the period at 5,737.78.
"The highest new entry to our tables belonged to ARM Holdings Plc (ARM), which was this week's fifth most popular buy, having announced on 24 April that its quarterly pre-tax profits rose 22% to £61.9m in the first three months of 2012 compared to the same period last year. The chip designer's share price rose by almost 3% the following day, closing at 546.22p, before dropping to finish the week ending Monday, 30 April at 525.74p.
"Oil and gas explorers remained popular among TD clients this week, with Matra Petroleum Plc (MTA) the most notable new entrant in the sector, landing at ninth in the buys and seventh in the sells with a buy:sell ratio of 1.3:1. Weekly favourite Gulf Keystone Petroleum (GKP) occupied fourth in the buys table and third in the sells, down one position in each table from last week, while Xcite Energy Ltd (XEL) also appeared in both tables, with a buy:sell ratio of 1.3:1.
"Meanwhile, commodities trader Glencore International Plc (GLEN) entered the sells table in 10th place, as Xstrata Plc (XTA) - which is entering the final stages of a record tie up with Glencore - said it had seen a drop in first quarter copper production. However, Glencore's share price gained 5.8% during the week, reaching a week high of 439.95p on Friday, 27 April."
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