TD clients tempted by takeover talk

Stuart Welch, CEO, TD Direct Investing comments: "Barclays Plc (BARC) remained the most popular buy among TD clients this week who traded the stock at a ratio of 3:1 as the investigation continues into allegations the bank tried to manipulate the interbank lending rate LIBOR (London Interbank Offered Rate). Meanwhile the FTSE 100 dropped to close the week at 5,627.33, with the overall buy:sell ratio across our top ten tables finishing the week ending Monday 9 July at 1.7:1.

"Occupying top spot in the sells table this week was Gulf Keystone Petroleum (GKP), which accounted for almost a quarter (23.3%) of all top ten trades. The company closed at 207.102p on Monday (9 July), up nearly 20% on the same time the previous week following an investor roadshow and renewed speculation that ExxonMobil Corporation (NYSE:XOM) might bid for the Iraq-focussed oil explorer.

"Meanwhile, Bowleven Plc (BLVN) was a new entry to both tables, taking joint sixth place in the buys and seventh place in the sells, with a buy:sell ratio of 2:1. The Edinburgh-based oil and gas explorer's share price rose 5.8% during the week following rumours of a takeover offer from larger rival Tullow Oil Plc (TLW).

"Elsewhere, Man Group Plc (EMG) was the highest new entry to the tables, taking fourth place in the buys after finishing the week down nearly 16% at 64.132p on Monday (9 July). The dip followed an announcement on Tuesday (3 July) that the hedge fund manager has hired an adviser to provide guidance on its UK institutional business."

The value of your investments can go down as well as up. You may not get back all the funds that you invest.

For more information clients can log on to tddirectinvesting.co.uk.