TD Waterhouse customers look to energy sector for a boost

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Trading in banking stocks calmed this week accounting for just over half (53%) of overall activity compared to 74% last week, when activity was being driven by results announcements. This week, our customers turned to the commodities sector instead with long-term customer favourite Xstrata climbing two positions in the top ten buys and making a new entry in the sells.

"TD Waterhouse customers may have noticed opportunities in the sector as miners, traditionally dependent on a healthy global economy to stoke demand for commodities, were among the heaviest fallers on the FTSE at the beginning of the week. The FTSE 100 fell sharply on Monday - closing down 88 points at 4,625 - with Xstrata its worst performing stock due to falls in commodity prices in China. But the index opened 0.67% up at 4,676.05 on Tuesday morning, allowing the FTSE 100 companies to recover on earlier losses. With Xstrata entering the sells this week at fifth place, our stats indicate some savvy customers may have cashed-in on the miner's 3.23% share price hike on Tuesday morning. The international mining company remains hopeful of a merger with rival Anglo American after reporting a 63% drop in operating profit and a 39% slide in revenues for the first half of the year.

"Another energy company, Victoria Oil and Gas, grabbed our customer's attention this week, making its first ever appearance in the top ten ahead of its impending half year results announcement next week. Buys in the stock were 52% higher than sells, as shares in the African-focused exploration company reached a six month high of 7p on Tuesday. Victoria Oil will begin drilling this month at its gas field development asset in Cameroon, now that the company has secured cash funding from a local firm over and above the £5.3 million (before expenses) it raised in an equity placing back in June.

"The company has also increased its Standby Equity Distribution Agreement (SEDA) with YA Global Master SPV Ltd from £5 million to £10 million, as it awaits a preliminary hearing following its appeal against the ruling of the Atyrau Economic Court regarding ownership of the Kemerkol oil project, which is due to take place at the end of the month.

"Food technology firm Provexis has piqued our retail traders' appetite, entering the top ten for the first time ever this week at tenth place in the buys table. Our customers may have been looking for future gains as shares in the life-sciences firm dwindled below 3p earlier this week before climbing above 6p on Tuesday. Shares in the firm were boosted earlier this month as four out of the five board members acquired a large allocation of new shares - raising £2.5 million to fund the company's development of a medical food-based treatment for Crohn's disease sufferers."