TD customers cash in on hikes as banks rally on FTSE

Darren Hepworth, Trading and Customer Services Director, TD Waterhouse comments: "Bank and mining stocks rallied on the FTSE 100, which climbed to record highs this week amid encouraging reports of a global economic recovery in 2011.

"Barclays (BARC) increased 4.5% to 276p and RBS (RBS) 3.3% to 42.3p last week (9 Dec), leading TD Waterhouse customers to cash in on the gains and allowing the Banks, including Lloyds (LLOY), to finally regain the top three positions in this week's sells table. Overall in our top ten trades, 12.3% more stock was sold than bought this week indicating selling has been the strategy of choice as customers sought to take advantage of some pre-Christmas profits. ,

"RBS and Lloyds have both been under close scrutiny by The Treasury Select Committee however RBS has finally broken its silence this week in a statement offering to publish a new version of events explaining the bank's collapse. The carefully-worded statement, in response to a letter from the chairman of the FSA, says RBS has ‘no objection' to public scrutiny, but it does also make it clear that the material is confidential and would require the Bank to only do so subject to commercial constraints.

"Energy and mining stocks, which have also enjoyed share price hikes on the stock market's recent rally, may have advanced even further after a snap-back for bullion prices. This may explain our customers' continued interest in the sector and the new entrants we see in this week's tables.

"Newcomer Edenville Energy (EDE) has entered the buys for the first time at sixth place this week after rising 22% to 1.465p last Wednesday (8 Dec). The African coal exploration and development company, formerly known as Gemstones of Africa Group Plc, maintains it is not aware of any reason for the price rise but market speculation contends the company may be a takeover target.

"Centamin Egypt (CEY) and Encore Oil (EO) have also returned to the top ten table this week,entering in third and seventh places in the buys. Encore also sits at ninth place in the sells and Regal Petroleum enters the sells at fourth place. Finally Bahamas Petroleum Company (BSHPF), which has dropped down one place to eighth position in the buys, has this week crept into 10th place in the sells after speculative buying lifted its share price."