Banking and mining stocks drive trading activity

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Trading in this week's top ten remained steady with overall activity increasing just 8% on last week. While buy trades continued to lead - accounting for 21% more than sells - this week's sells were closing in after increasing its previous week's figures by 60% .

"Banking stocks tightened their grip on the top ten this week claiming more than a third of the total activity (64%) compared to 61% last week. Banking buys were almost 10% higher than sells with 68% and 59% respectively. Barclays held the top position with almost a third (31%) of total top ten trades. Our customers snapped up more than three quarters (78%) more Barclays' shares than last week, which accounted for 32% of all buys this week. Customers may have been looking to take advantage of falling share prices as the banking giant's Abu Dhabi investors sold part of its stake, making a £1.46bn profit. PCP Gulf Invest 1 Ltd made a 73% gain after selling its investment, which saved the bank from dipping into the Government's bailout pot seven months ago. However, analysts fear the sell-off could spark a fall in share price.

"The mining sector drilled its way into the top ten again this week accounting for 17% of all trades amid speculation of a commodity price revival. Newcomer Nighthawk Energy has entered the top ten this week accounting for 61% of mining buys after agreeing to sell a 20% working interest in its Colorado-based Jolly Ranch project to its partner Running Foxes. The US-based oil group will initially receive $10.9m under the deal with the possibility of a $29m top up if all of the options are exercised.

"Finally, Taylor Wimpey is building its way back into the top ten after a short absence, climbing to fifth and sixth place in the buys and sells tables respectively with 41% more buys than sells. The house-builder may have caught our customers' attention after it unveiled plans to raise £500m through a heavily discounted shares placing and an open offer to tackle debts in May."