Xcite energises TD clients and tops most popular trades tables

Stuart Welch, CEO, TD Direct Investing comments:  "The oil and gas and mining sectors came into focus for TD clients this week, as Xcite Energy Limited (XEL) topped both our buys and sells tables. The oil company accounted for almost 29% of all top ten trades, with a buy:sell ratio of 1.4:1. It seems that Xcite interested our clients after reporting a successful test for crude oil at its Bentley field in the North Sea. Despite this news, its share price dropped 19p to close the week ending Monday 24 September at 106.84p compared to the same time last week. Meanwhile, the FTSE 100 finished 55 points lower than the previous week, closing Monday (24 September) at 5838.84.

"Lonmin plc (LMI) was a new entrant to our top ten buys this week, entering the table in seventh position following the news that striking South African miners have agreed to a pay increase and will return to work at the mine. The strike, which started on August 10 2012, has seen the company's share price fluctuate, finishing slightly lower than the previous week at 578.50p on Monday (24 September), encouraging TD clients to buy.

"Another mining stock in the tables this week was Rio Tinto plc (RIO), which entered the buys in ninth position. The company's share price dropped 8% in the week ending Monday 24 September as it announced job cuts at its Australian Coal & Allied Industries unit in an attempt to reduce costs. TD clients may also be choosing to buy amid reports suggesting that negotiations between China and Mongolia around the mining giant's currently inactive Oyu Tolgoi copper mine in Mongolia are ongoing." 

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