TD Waterhouse customers resist the pressure to sell out

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "This week, the general trend among TD Waterhouse customers has been to buy stock, with top ten buys outnumbering top ten sales by 33%, while trades in Royal Bank of Scotland have remained level compared to last week's buying frenzy.

"Royal bank of Scotland, which has held the top position in both the buys and sells tables for two weeks running, will hope that it is in better stead to see through the credit crunch as its largest investor, Standard Life, has announced it will be increasing its stake in the bank as part of a recapitalisation plan unveiled by the Government.

"Meanwhile, there is continued strong trading activity in Lloyds TSB and Barclays as the rival banks swap places in the sells table placing Lloyds TSB ahead of Barclays. Having survived the economic crisis unaided, Lloyds TSB's proposed merger with HBOS could bring it closer to issues it had previously avoided, such as commercial property lending, something Lloyds shareholders will be very wary of when they are called to vote on the deal.

"Barclays is hot on the heels of Lloyds in both tables and increasing its business dealings in Japan as it plans more equity sales and research, having recruited 100 new employees from collapsed bank Lehman Brothers.

"Finally mining companies proved to be a new favourite this week with Switzerland-based Xstrata making an appearance following a recent statement announcing a robust financial position with no significant debts to repay until 2011. While BHP Billiton share sales continue to soar with an increase of 25% up on last week causing customers to actively trade in the global mining company, which recently increased its quarterly iron ore output by 15%."