TD Waterhouse customers regain focus on banking sector

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "This is the first full week of our top ten trades that includes our newly acquired online share dealing customers from Hoodless Brennan, who migrated on to our trading platform towards the end of August.

"We are already seeing an increase in trading volumes from our new customers in addition to the healthy levels of trading we have been experiencing from our existing customers.

"This week there was regained focus on the banking sector, which accounted for more than half (56%) of all trades. Buys were 28% higher than sells as customers looked to snap up falling shares. Royal Bank of Scotland (RBS) was the most popular stock - claiming 28% of the overall top ten with Lloyds Banking Group (Lloyds) following closely behind at 21%.

"Customers seemed to have mixed feelings about RBS as buys were just 14% ahead of sells with the banking giant holding the top position of both tables. Last week, RBS revealed its US-based payment processing division, RBS WorldPay, has won a multi-year contract to provide electronic payment solutions for individual and business taxes. The contract with the Internal Revenue Service will begin at the start of next year.

"Our customers also traded heavily in Lloyds - snapping up 14% more buys than sells as the bank considers alternatives to avoid the Government's costly Asset Protection Scheme (APS). Shares in the 43% state-owned bank rose slightly on Friday following news that it is mulling over the sale of some of its assets including Scottish Widows and Clerical Medical.

"Johnston Press made its first appearance in the top ten - reaching tenth place in the sells as customers may have been looking to cash in on its recent share price hike. Shares in the regional newspaper publisher rose to 39.50p on Wednesday as investors grew hopeful of the £485m debt deal agreed with banks to manage the firm's £94m pre-tax losses for the first half of the year caused by a 25% slide in revenues. The Scotsman owner claimed the losses were down to a fall in advertising and insists it's strongly cash-generative after agreeing a three year debt facility with lenders."