Investors build portfolios with property and commodity stocks
Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Buys remained 12% ahead of sells this week as the property and energy & mining sectors proved to be popular choices for TD Waterhouse customers.
"Oil and gas producer Afren made a rare appearance in the top ten tables as the fourth most popular buy after making a share placing of 129.5m shares on Tuesday. The shares, which were issued at 81p - representing a discount of almost 10% compared to Monday's closing price of 89.75p - raised $174.9m to help fund projects and any future acquisitions. The AIM listed company, which hopes to join the London Stock Exchange's main market next month, has already managed to cut its debt pile by $52.4m to $161.9m. Despite reporting losses from their incorporation, the firm predicts it will make a profit in the second half of the year to December.
"Meanwhile, gold miner Randgold Resources crept into tenth place of the top ten sells this week as customers may have been looking to cash in on its recent share price hike. Shares in the African-focused miner were up 329p over the past week to reach a high of 4,788p on Tuesday after it announced gold sales in the third quarter remained in line with those during the second quarter. Last week Randgold revealed it will be increasing its stake in the recently renamed Kibali mine in Congo by 20% along with its joint venture partner, AngloGold Ashanti. The deal, worth £$113.6m will mean the two partners will each hold 45% of the mine.
"House-builders have also made a comeback in the top ten this week, helped in part by the recent news that house prices are gradually rising, according to a report by the Royal Institution of Chartered Surveyors (RICS). Taylor Wimpey has climbed up two places in both tables to reach fifth and sixth place in the buys and sells, respectively. Perhaps our savvy customers were trading this stock more heavily following signs that its business is stabilising as selling prices climb 9% higher than July's average of £163,000. Orders have remained steady with Taylor Wimpey's 2009 order book already full standing at a value of £1bn. Rival housebuilder, Barratt Developments also appeared in the top ten buys - reaching tenth place after receiving acceptances in respect of 92.3% for its £720m rights issue."