TD Waterhouse customers cash in on Gulf Keystone

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Overall trading increased slightly this week as TD Waterhouse customers continued to snap up stocks with buys 51% higher than sells. The energy and mining sectors remain popular amid speculation that the price of oil will continue to rise - diluting the banking sector's dominance of the top ten trades.

"Gulf Keystone Petroleum was the most popular sell this week - breaking the banks hold on the top spots. The oil and gas explorer accounted for 22% of the top ten sells as our customers may have been cashing in on its recent shares price hike. Shares in the company surged to 110p on Tuesday following the discovery of more oil in the Triassic section of its Northern Iraq-based well. The latest find is in addition to the 2bn-4bn barrels of heavier oil previously discovered at its Shaikan-1 well. Developments have helped the company's share price to rise by 33.11% over the past month.

"Defence, security and aerospace firm BAE Systems has flown into ninth place of the top ten sells this week as it waits to find out whether allegations of bribery relating to overseas contracts will end up in court. The Serious Fraud Office (SFO) is seeking permission from the Attorney General to prosecute BAE over claims it paid backhanders to gain contracts in the Czech Republic, South Africa, Tanzania and Romania. The accusations, which have been strongly denied by BAE, could land the firm a fine of up to £1bn.

"Platinum group metals producer Lonmin made a rare appearance in the top ten buys this week as it reassured investors over recent speculation that Xstrata may be looking to sell its 25% stake in the firm. Customers may have been looking to snap up shares in the South African-focused company when they dropped to 1433p on Friday before picking up again this week. Speculation has also been rife that Xstrata may make a second offer for Lonmin following its unsuccessful attempt last year, as bidding restrictions ended on Friday."