Trading volumes rise as eurozone woes weigh on FTSE

Angus Rigby, Chief Executive Officer, TD Waterhouse comments: "Trading volumes jumped by more than a third this week as the FTSE100 sank on ongoing concern that the Eurozone debt crisis would derail global growth. Among our top ten stocks, buys outnumbered sells by more than two to one in the week ended 25th May as our customers sought to take advantage of declines in the market. Banks maintained their popularity, as did Falklands-focused oil junior Rockhopper Exploration (RKH), while video search engine Blinkx plc (BLNX) had a surge in trading after reporting that it had moved into profitability.

"Lloyds Banking Group (LLOY) maintained its position as the most bought and sold stock among our customers as its shares paced declines in the broader market. Barclays (BARC) moved into second place on the buys list as the banks continued to dominate, accounting for 49% of the top ten buys and 53% of the top ten sells.

"Rockhopper Exploration was popular again, featuring as the fourth most-sold stock and the eighth most-bought as our customers await results of the company's drilling at the Sea Lion prospect in the South Atlantic. Gulf Keystone Petroleum (GKP) was also heavily traded again as the company announced a $165 million capital raising to fund its work in Kurdistan.

"Blinkx entered the top ten sells at number seven after it reported results that beat analysts' consensus on all key metrics including top line revenue and gross profit, boosting the shares in the company, which has offices in San Francisco and Cambridge.

"And finally, Switzerland-based miner Xstrata (XTA) was heavily traded once more, as the fourth most-bought and fifth most-sold stock among our top ten amid weakness in metal prices. BP shares (BP) also featured in the top ten again this week amid ongoing concern about the cost of its spill in the Gulf of Mexico and as crude oil prices declined."