Lloyds and Barclays top TD client trades
Stuart Welch, CEO, TD Direct Investing comments: "The banking sector drew the attention of TD clients this week, as Lloyds Banking Group (LLOY) and Barclays (BARC) took first and second places respectively in both the buys and sells tables. TD clients were in a selling mood for both banks with the buy:sell ratio in Lloyds standing at 1:1.25 and in Barclays at 1:1.1. Meanwhile, the FTSE 100 finished 18 points lower than the previous week, closing Monday (1 October) at 5820.45.
"Lloyds alone accounted for almost a fifth (19.9%) of all top ten trades in a week which saw the banking giant announce it would begin to withdraw its mass market investment advice service for retail customers with less than £100,000 in savings and investments from November 2012. Lloyds' share price closed at 39.6p for the week ending Monday 1 October, slightly down from 40.1p at the same time last week.
"Elsewhere, Imagination Technologies Group plc (IMG) was one of six new entrants to our tables. The multimedia technology specialist entered the top ten buys in seventh position as news reports suggested that long term partner Texas Instruments (NADAQ:TXN), America's second-largest chip manufacturer, was refocusing investment away from the smartphone and tablet market because it was becoming increasingly competitive. TD clients seemed to take the opportunity to buy as Imagination's share price fell to a low of 459.3p during the week ending Monday 1 October, recovering to close the period at 488.4p.
"Finally, Nighthawk Energy Plc (HAWK) entered the TD clients top sells table in 10th position as the company announced positive annual results, halving its loss from $71.7 million in 2011 to $35.9 million in 2012. TD clients may have decided to sell on speculation that Nighthawk would take the previous operator of its Jolly Ranch shale oil project in Colorado to court over the setbacks it had experienced."
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