Share offerings entice investors to snap up more buys than sells

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Buying was the strategy of choice this week - with the top ten buys by TD Waterhouse customers 30% higher than sells.

"Medicinal food and drinks company Provexis was the highest climber, accounting for 13% of the total top ten trades as it ascended five places to be the third most popular stock in both the buys and sells tables this week. Shares in the firm fell as low as 7p on Thursday before rising to 9.9p later during the day following news it was mulling over a new share placing in a bid to raise £5m.

"Real estate has also been a popular choice among customers this week with Taylor Wimpey sitting in sixth and seventh place of the buys and sells, respectively. However, it seems customers are broadening their horizons, moving from the residential property sector to the commercial property sector as Songbird Estates made its first appearance in the top ten this week at ninth place in the buys. Customers may have been looking to take up the AIM-listed firm's recent share placing after it issued 43bn new ordinary shares at 1p each in an effort to raise £430m. The share placing is part of a bigger initiative aimed at raising £1.03bn to reduce its debt pile and facilitate the purchase of an 8.45% stake in Canary Wharf Group (CWG) from Commerzbank AG for around £112.5m (excluding expenses). The Deal will increase the firm's interest in CWG from 60.8% to 69.3%.

"Fertiliser plant operator Sunkar Resources also made its debut appearance in the top ten sells perhaps as customers considered taking a profit from the company's recent share price hike. Shares in the firm rose to 39.50p on Monday after the company confirmed positive pilot plant tests on its Chilisai phosphate rock from its deposit in Kazakhstan. Tests have revealed that the rock can be commercially converted into phosphoric acid.

"Meanwhile, Yell Group trades climbed to be the fifth most popular buy as customers snapped up 20% more buys than sells in the stock on the back of news that shares in the telephone directory company plummeted to a weekly low of 48.65p on Monday before jumping again to 66.15p on Tuesday, this was probably helped by the company's recent decision to launch an equity offering in a bid to raise £500m to tackle its £3.8bn debt pile."