TD Waterhouse investors profit from oil sector

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "While the UK enjoyed a sunny Bank Holiday it was business as usual for the global markets. TD Waterhouse customers took full advantage of our out of hours trading service with international trades accounting for 10% of normal daily trading activity while the LSE was closed on Monday.

"Elsewhere, commodity trades have rallied recently and investors upped a gear this week following Goldman Sachs' projection that crude oil price could spurt even higher to $200 a barrel in the next two years.

"TD Waterhouse customers have homed in on oil and gas investment in recent weeks following reports of a bullish outlook on the future consumption of commodities from industrialisation and urbanisation in emerging countries.

"Investor sentiment is mixed with some customers choosing to go short on the sector and taking their profits from oil giants BP and Shell; the possibility of a downward spike on oil price evidently weighing heavy on the minds of some. Both companies reeled with trader activity following their strong first quarter results at the end of April and consequently they took centre stage this week. BP was second most popular sell making up approximately a sixth (16%) of these trades and Shell followed suit in 8th place.

"However, the emergence of AIM-listed oil and gas explorer Irvine Energy as our fourth most popular buy this week indicates that customers could merely be shifting focus from one oil company to another. Shares in the company are trading up on last month, bolstered by news at the end of April that oil drilling has begun at the Rock 3D acreage in Kansas, USA.

"Meanwhile, banks are never far away and continue to attract interest, snapping up the three pole positions on our most popular investor buys. Royal Bank of Scotland (RBS) headlines as our most traded stock this week with over a quarter (28%) of all buys and sells."