TD customers trade on increased market optimism

Darren Hepworth, Trading and Customer Services Director, TD Waterhouse comments: "TD customers ended the tax year amid renewed optimism in the markets this week as the FTSE climbed back above the 6,000-mark, closing at 6,007.96 on Tuesday, 5 April. The rise came as positive US jobs data boosted confidence about the continuing global economic recovery.

"New entrant to both the top ten buys and sells table, Physiomics (PYC), will certainly testify to a week filled by an air of optimism, as the company saw its share price open at 110p on Monday, up from the previous Thursday's low of 32p. The spike followed the announcement of positive results from a pre-clinical study into breast cancer, based on predictions from its ‘Virtual Tumour' model on Friday (1 April), propelling the Oxford-based company into fourth place in our customer buys table and eighth in the sells.

"Meanwhile, Mozambique-focused miner Baobab Resources (BAO) entered the top ten buys in 10th place as its chairman announced on Tuesday that the company is in a comfortable financial position for its drilling and pre-feasibility work through to 2012. Fellow miner, Xstrata (XTA), lifted one place to third in the sells as analysts commented on Monday that the company's Koniambo project will be the litmus test for its ability to deliver on plans for organic growth.

"It wasn't all positive news this week however, as Dixons Retail (DXNS) announced last Wednesday (30 March) that its annual profits would be at the lower end of market expectations. TD customers appeared to capitalise on the comments, which sparked a plunge in the electrical retailer's share price, making it the fifth most popular buy this week. 

"Investors remain watchful over oil prices as Brent crude hit its all-time highest level in sterling terms on Monday and oil companies appeared particularly popular with our customers as a result. BP's (BP) stock was up, closing at 474.63p on Tuesday (5 April) after hitting a week low of 452.05p last Thursday (31 March).

"Gulf Keystone Petroleum (GKP), occupied ninth place in the buys and fifth in the sells, Range Resources (RRL), took sixth and seventh places, respectively, and Xcite Energy (XEL) placed seventh and tenth in the buys and sells, after announcing it had applied 1.56 million shares in the company for the admission to AIM, related to the draw down on a standby equity distribution agreement issued recently."