Investors at cross roads on Southern Cross and Tanfield Group

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Shares in care home provider Southern Cross fell dramatically on Monday, falling 58.5% to 130 pence per share and leaving the group reeling. The profit warning from the company comes just two months after claims that Southern Cross was in a good position. The decline was put down to delays in local authority funding and "higher than normal attrition rates of nursing residents".

"As a result of the confusion many of our customers have been split on the group. Some investors chose to cash out now while they can, while others have been looking for a healthier upside. Therefore, despite the group's 7th placed spot on both tables, the number of buys marginally out-weighs the sells.

"Elsewhere, with global concerns over rising oil prices, which hit a record high in London today at $146 a barrell, one would think that electric alternatives would be performing well. However, industrial ‘cherry-picker' and electric vehicle manufacturer Tanfield suffered an 83% fall in price to 5.53 pence per share after the company issued a profit warning on Tuesday.

"Tanfield blamed this on production issues combined with a drop in global demand for products. Again shareholders and investors were left slightly confused as to what was happening and trading was split.

"Finally, the UK's banks continue to dominate both tables again this week, making up 69% of this week's buys and 72% of the sells. Barclay's shares fell more than 3 per cent on Tuesday to just below the 282p price at which investors, including the Qatar Investment Authority, had agreed to inject new equity into the bank, while HBOS is currently sitting below it's 275p rights issue offer price.

"Against this backdrop, all eyes will be on Bradford & Bingley when they seek shareholder approval for their own rights issue at the extraordinary general meeting being held in Harrogate on Monday."