Retail investors take a shine to Solomon Gold

Darren Hepworth, Trading and Customer Services Director, TD Waterhouse comments: "Solomon Gold (SOLG) has not just made a comeback - it has stolen the top spot in both the buys and sells tables this week. The stock accounts for 16.4% of our overall top ten trades this week after shares in the Solomon Islands and Australia based gold miner sky-rocketed almost 300% on the back of last week's promising gold results at its Fauro Island project.

"Last Thursday (23 Sep) when the AIM-listed miner announced positive assay results from its recent surface sampling, the company's share price reached an impressive 81p intraday-high, before closing at just above 50p.

"But Solomon Gold is not the only popular choice this week. The resources industry as a whole continues to pique the interest of our retail investors, with energy and mining stocks accounting for a phenomenal 74% of the top ten buys and 69% of the sells this week.

"Two new stocks from the sector entered the buys table this week. Oil and gas group Encore Oil (EO), which has signed a rig contract ahead of plans to begin further drilling in the UKCS Central North Sea Block, and mineral exploration company Red Rock Resources (RRR), which gained nearly 80% to hit a record high of 7.475p per share on Monday (27 Sep).

"Overall retail trading activity has increased by 8% since last week with buying the decided strategy of choice by our customers. This week's buy trades are not only 65% ahead of the sells, but there has also been a 12% increase in the number of shares bought since the week ended 21 September.

"Finally, the banks remain a popular choice, accounting for 28% of this week's top ten, with Lloyds (LLOY) at second position in both tables. Last week the black horse announced that Scotland is continuing its economic recovery according to its survey results. Meanwhile, Royal Bank of Scotland (RBS) has descended one place to become the third most popular sell and dropped off the top ten buys altogether this week. Barclays (BARC) continues to remain popular this week, climbing up one place in the sells but down two places in the buys."