Vodafone calls time on banking sector's stranglehold

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Our customers have been in ‘buy' mode again this week, with almost two buys for every share sold. However, the most interesting development appeared in this week's sells table. Vodafone broke the banks' stranglehold of the top three positions as its sell trades soared above RBS and Barclays to reach second place this week. Overall, the world's largest mobile phone company by revenues accounted for a fifth (19%) of the top ten sells as customers looked to take advantage of the telecom giant's huge share price hike last week.

"Mining giant Xstrata regained favour this week as traders bought over a third (38%) more shares in the company compared to last week, while sells fell by half (50%) of the previous week's figure. Customers may have been looking to snap up falling shares in the miner after its £41 billion merger bid for rival Anglo American was thrown out by directors. Buys in Xstrata, which was the most heavily traded mining stock in last week's top ten, were almost three quarters (73%) higher than sells this week as the company ponders its next move. The Swiss-based firm is largely expected to take its proposals for a nil-premium merger of equals directly to Anglo's shareholders in the hope they will exert pressure on the board to strike a deal.

"Despite recent share price hikes, stocks in the mining sector were one the worst performing for most of last week. But with mining companies accounting for a third (33%) of the top ten buys this week, our customers appear to be hopeful of future potential gains by snapping up a bargain now. This is a tactic that appears to have worked well with other mining stocks. Oil and gas explorer Max Petroleum leapt into sixth place in the top ten sells this week as the Kazakhstan-focused company reached its highest share price in almost eight months on Monday.

"Finally, Yell Group has reappeared in the top ten this week after admitting it may need to renegotiate its debt terms for a second time. Buys were up two thirds (66%) on sells as shares in the directories firm dropped at the beginning of the week."