TD trades up as UK sports fever rises again

Stuart Welch, CEO, TD Direct Investing comments: "TD client top ten trades increased by 6.1% in a week which saw sporting fever hit the UK again. Taking the top spot in both the buys and sells tables was Xcite Energy Ltd (XEL), which accounted for a quarter (25.3%) of the top ten trades, with a buy:sell ratio of 1.2:1. Xcite has seen its share price increase by 49% in the month to September 3 since it announced its Bentley field in the North Sea had been brought into production. Meanwhile, the FTSE 100 finished down on the week at 5758.41 as the top ten UK stocks among our clients were bought and sold at a ratio of 1.3:1.

"There were six new entrants to our tables this week, with the sports retailer JJB Sports plc (JJB) entering the buys table in third place. It appeared that TD clients were looking for a bargain after its share price fell 88% during the week (ending Monday 3 September), following the news it was exploring a sale after failing to secure enough funding to drive a turnaround in business.

"Elsewhere, Bowleven plc (BLVN) entered the buys and sells tables in 10th and ninth places respectively, with a buy:sell ratio of 1.4:1. The oil and gas exploration company saw its share price fluctuate throughout the week, closing on Monday 3 September at 73.94p after speculation of a takeover continued. The company has been a focus for rumour since Dragon Oil plc (DGO) said it would not make an offer for the group back in February.

"Hibu plc (HIBU) was another newcomer this week, entering the buys table in joint seventh place, after lenders finalised a steering committee to lead restructuring talks on the company's £2bn debt. Although Hibu's debts have fallen since their peak of £3bn four years ago, the company still has £2.2bn of debt on its books, more than 100 times its own market value. Its share price closed at 0.5p on Monday 3 September."

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.