TD clients shop for supermarkets as FTSE breaks 6,000
Stuart Welch, CEO, TD Direct Investing comments: "The start of 2013 has proved interesting for investors as the FTSE 100 surpassed the 6,000 barrier for the first time since July 2011, closing week ending Monday 7 December at 6,064.58. Following the Christmas retail rush, supermarkets seemed top of TD clients' agendas in anticipation of 2012 sales results from a number of leading UK supermarkets and retailers. The British Retail Consortium (BRC) this week announced that strong growth in online shopping stopped retail sales falling in December. John Lewis, for example, cited that online shopping contributed to increased Christmas sales figures, revealing a sharp rise in like-for-like sales during December.
"Of the listed UK supermarkets, both Tesco (TSCO) and J Sainsbury plc (SBRY) appeared in the TD Top Ten for the week ending Monday 7 January. Sainsbury's entered the buys table in eighth position and Tesco occupied the fourth spot on sells table, as TD clients seemed to anticipate the supermarket giants' Christmas sales results. Competitor Morrisons announced on Monday that, in the six weeks to 30 December, like-for-like sales fell 2.5% compared with the same time last year. Sainsbury's published its Christmas trading statement today (9 January) and Tesco will publish its tomorrow, Thursday (10 January).
"Lloyds Banking Group plc (LLOY) remained in the top spot of TD clients' buys last week and also stayed in second place on the sells, after suffering a system failure just before New Year's Eve, with customers complaining they weren't able to withdraw money from ATMs. However, Lloyds shares recovered during the week, as global central bank leaders agreed to soften and delay a proposed bank liquidity rule, Basel III. Shares in the Lloyds closed at 50.41p on Monday (7 January) as a result of the decision."
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