Investors react to mixed fortunes for some of the largest blue chips

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Our customers continued to trade heavily this week with heavy focus on buying shares, particularly in Barclays which accounted for 39% of our top ten buys as customers looked to bulk up on the stock. Barclays Chief Executive, John Varley, recently wrote to all 150,000 employees to reassure them they had made the right decision to shun the Government's bailout, favouring instead to raise $12.1bn capital from investors in Abu Dhabi and Qatari.

"Perhaps sensing another bargain, our customers were eager to snap up shares in BT Group following the telecom giant's announcement that it would fall below its forecasted earnings, ahead of releasing second quarter results. As BT's shares hit a 20 year low the company leaped into our trading tables, accounting for 16% of top ten buys. BT blamed its disappointing performance on operational failures with a unit that provides network services to multinational companies rather than the wider economic state. In a bid to protect itself against future liability, the world-leading communications provider revealed plans to reform its £35bn pension scheme, one of the country's largest with 65,000 members.

"As our customers look down the line for profits from BT, it was a case of take the money and run for other stock. There has been a notable increase in the number of sells this week, which rose by 57% compared to last week top ten sells table. For some companies it has not been a great week, especially in the case of British Airways (BA).

"The week started badly for the airline when it was criticised for its role in the shambolic opening of T5, which MP's hailed a ‘national embarrassment'. This was accompanied by the news that its stumbling share price could jeopardise its proposed merger with Spanish airline, Iberia. Despite reducing its net debt, BA has suffered worsened deficit in its pension funds as well as a reported 4.8% drop in traffic. It was recently forced to indefinitely postpone the planned addition of a fifth aircraft to its new subsidiary Open Skies following the revelation it was performing below budget. Our customers have opted to tack a more traditional mode of travel, choosing to walk away from BA now and making the company our 7th most popular sell this week."