TD Waterhouse customers tap into miners

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Buys increased marginally on last week and edged 5% ahead of sells in the top ten this week. The mining sector helped the FTSE 100 reach its sixth consecutive weekly gain - its longest winning streak in five years. Analysts drew light on the 2010 profit forecast, which recommends that mining shares are the most controlled when it comes to economic recovery and growth. Shares were expected to rise following the rising cost of iron ore and coal prices.

"Xstrata was this week's most heavily traded mining stock, and in addition to Rio Tinto, it was the only other mining stock which helped to lift the FTSE 100 this week. Xstrata accounted for 13% of the top ten buys which rebounded from recent profit taking after analysts predicted profit expectations were likely to be low. The stock ended the week 3% higher than last week following news it is involved in a bidding war for Australia's Macarthur Coal, who had previously delayed shareholder votes after revealing that Xstrata had approached one of its biggest shareholders. It was later reported that Xstrata has been in talks with both ArcelorMittal and Posco, steel makers that own 24.9% of the firm's shares."

"GCM Resources landed in fourth place in both the top ten buys and sells this week - accounting for 9% overall - after it was reported that the miner could potentially secure a mine coal license in Bangladesh, causing its share price to increase 30% last Friday (9 April). Heavy speculation suggests a major Indian power company is planning to meet with the Bangladesh government with a view to building a power station, which in effect, would potentially make way for GCM's license to be approved."

"Pharmaceutical company GlaxoSmithKline (GSK) crept into seventh place in this week's top ten buys, accounting for 6.5%, following revelations that its subsidiary, Maxygen, has received the rest of GlaxoSmithKline's holding at 1.433m shares. The shares accounted for 4.5% of Maxygen's issued share capital. Shares in the drug-maker climbed heavily earlier in the week following an announcement by the chairman of the World Health Organisation's Emergency Committee claiming the H1N1 flu pandemic remains a threat to young adults. GSK is one of the main pharmaceutical companies responsible for producing a vaccine."