Range Resources most traded stock by TD customers this week
Darren Hepworth, Trading and Customer Services Director, TD Waterhouse comments: "Oil and gas explorer Range Resources (RRL) has knocked the banks off the top spot becoming the most popular buy and sell this week, and alone accounting for more than a fifth (22%) of all top ten trades.
"The stock has gained over 150% in the past month despite reporting fourth quarter losses at the end of February and receiving an analyst downgrade. The company stated on Friday 4 March that it is ‘not aware of any information concerning it, that has not been announced and which, if known, could be an explanation for recent trading in the securities of the company'.
"New stocks grace the tables from across the sectors this week. Cancer drug discovery specialist, Sareum Holdings (SAR), has re-entered the top ten at third in the buys and second in the sells after announcing positive results from tests on its latest cancer drug. The news sent the company's shares soaring to 2.22p at close on Friday 4 March, over 111% higher than the day's starting point.
"Sound Oil (SOU), meanwhile, enters at ninth place in the buys this week after drawing down on its Standby Equity Distribution Agreement with YA Global Master SPV for £1 million, or 2.577p per share, last Wednesday 2 March. One week later (9 March) the upstream oil and gas group also announced a beef-up to its portfolio with a new exploration license in Italy.
"Insurance giant Aviva (AV) makes a return to the top ten buys at 10th place after receiving praise from politicians for turning over an impressive profit during 2010. The company, which employs 45,000 staff worldwide to serve a massive customer base of 53.4 million people, announced a 26% increase in operating profit to £2.55 billion.
"Overall investment appears to be the dominant trading strategy this week with 35% more stock bought than sold. But there has also been a surge in selling as the volume of stocks sold this week has increased by 31% compared to last week, perhaps in an effort to capitalise on share price hikes."