TD Waterhouse customers jump in on the rescue plan

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Slumping stock prices of the UK's leading banks saw our customers' trading activity predominantly focused on the distressed banking sector - 79% of top ten trades are with the banks this week with RBS topping the table, taking 32% of buys and a quarter of sales.

"With shares in RBS down 61.5% since last Monday and Lloyds TSB and HBOS shares down 34.8% and 38.1% respectively, TD Waterhouse customers took the initiative to buy up stock at a lower price. As a result, this week's trading figures revealed a 22% rise in overall trading, with top buy trades up 28% and sales up 8%.

"Following the news that the government was forking out £39bn to help three of the biggest banks, it is not surprising that banking stock is still the most popular choice with our customers. RBS's slumping share price made it an attractive option for our buyers as buy trades for RBS outnumbered sales by almost one third (29.5%). Meanwhile, Lloyds TSB and HBOS have dropped on our trading tables as shareholders became dubious as to the short term benefits of the HBOS buyout.

"There is no doubt that our customers' renewed interest in Woolworths is down to Alan Sugar's unexpected acquisition of a near 4% stake in the struggling company last week. Our customers were quick to grab a bargain as shares in the retailer jumped 29% to 4.06p following the announcement. It's entry in the top buys this week is a sign of better prospects for the company after it lost 70% of its market value this year.

"The host of The Apprentice, who acquired almost 57m shares in the retailer valued at around £2.5 million, said that he saw potential in the Woolworths' property assets which amount to 817 stores in the UK. In the run-up to Christmas, Woolworths' newly appointed CEO, Steve Johnson, is orchestrating a massive turnaround within the company and the retailer is currently trying to reduce its £295 million debt with plans to sell leases on nine of its stores to Tesco for £9 million.

"Meanwhile, BP, one of the world's largest oil and gas companies has also made an appearance in our top trades this week following the company's oil discovery in the deepwater Gulf of Mexico. The company rose 28.5p to 446.75p after announcing the significant discovery, which is the third deepwater finding this year, the other two being Tubular Bells and Kodiak. BP also reported doubled first half net profits in its Russian arm TNK-BP Holding at the beginning of the week. The firm reached $4.72 billion, whilst revenues rose 63% to $24.9 billion."