TD investors shop for a bargain at Debenhams

This week TD Waterhouse investors were out on the high street in search of a bargain and there was only one place to go – British department store chain Debenhams.

Confidence in Debenhams was dented last week when major shareholder Merrill Lynch unexpectedly sold its 6.2% stake in the chain. The news saw the share price fall 17% to 59.25p against the 195p flotation price when the retailer was relisted in May 2006. Around one-in-ten (9.5%) TD Waterhouse investors saw the opportunity to bag a bargain, placing the retailer into our top ten buys for this week.

Angus Rigby, Chief Executive, TD Waterhouse, comments: “Retail stocks are not usually a regular play for our investors, but it’s obvious from this week’s table that they have more of an interest than just trends in fashion. Debenhams is an institution on the British high street and our investors were quick to respond to an early spring sale.

“Further afield, being sent to the Siberian front was often seen as a one way ticket for Russian soldiers, but Victoria Oil & Gas will be looking for more of a return with its West Medvezhye gas project in Siberia. Shares in the AIM listed exploration company have risen in the last week on speculation that the project is due to go into production. The Company was the third most popular buy this week, accounting for 11.5% of buys and was the sixth most popular sell by our investors.”

Angus Rigby continues: “Looking back more widely at our most popular investor trades for the first quarter of 2008, banks have certainly ruled our top buys and sells during the first few months of this year. Royal Bank of Scotland, Barclays and Lloyds TSB Group were the most heavily traded trio of stocks, accounting for 56% of buys and 52% of investors sells.

“However, banks are not the only giants to dominate the table this quarter with Marks and Spencer muscling in as the sixth most popular buy for our investors despite a rather lack-lustre performance from the FTSE 100 retailer over the past few months. In the eyes of our investors this is simply another buying opportunity and the fact that Marks and Spencer does not feature in our top 10 sells indicates that our investors are willing to bide their time until they get value for their money.”