Desire is TD customers’ most popular play

Darren Hepworth, Trading and Customer Services Director, TD Waterhouse comments: "Desire Petroleum (DES) dethroned banking stocks as the most popular buy and sell this week, as it jettisons into first position on the back of erratic market volatility.

"Only days after describing test results on its Rachel prospect in the Falklands as ‘highly encouraging' and sparking a phenomenal 25% rise in its share price, the company's chairman was forced to concede that the well was effectively dry.

"The oil and gas explorer quickly hit a gusher as its stock plummeted 49.5% on the disappointing news on Monday (6 Dec), but not without offering up opportunities for a bargain for those long-term investors that remain confident in the company's fundamentals.

This may explain why Desire is the top stock in both buys and sells this week.

"Meanwhile, Xcite Energy (XEL) has gained TD customer interest climbing four places, making it the second most popular buy and remaining the fourth most popular sell, as its share price fluttered over the week with bad weather delaying the start-up of the flow test of its horizontal well section on the Bentley field."

"Overall, sells are ever so slightly ahead of buys this week - buoyed not by energy stocks, but rather by the banks. This week the combined volume of sells in Royal Bank of Scotland (RBS), Lloyds banking group (LLOY) and, last week's top buy, Barclays (BARC) are 75% higher than buys in the same three stocks.

"The two state-backed banks - RBS and Lloyds - saw their share price fluctuate amid questioning from the Treasury Select Committee hearing on Tuesday (7 Dec). The two rival banks came together to reject calls for a break-up of Britain's banking giants, telling the Committee that the sector remained "enormously competitive".