TD customers pick a mix over Easter
Darren Hepworth, Trading and Customer Services Director, TD Waterhouse comments: "TD customers used the extended Easter period to broaden their trading horizons beyond the normal top ten stalwart sectors of oil and financials, week ending Tuesday, 26 April. Instead, they opted to buy and sell a wide array of stocks in a condensed week that included only three days of trading on the FTSE from Wednesday, 20 April. By Tuesday (26 April), the FTSE was back above the 6,000-mark, closing at 6,069.36.
"Range Resources (RRL) shot to the summit of the top ten customer buys table this week as it announced its first quarter results for 2011 in the US on Tuesday (26 April). The numbers detailed record production figures and the 33rd consecutive quarter of sequential production growth for the AIM-listed oil and gas explorer. Elsewhere in oil, last week's most popular buy and sell, Solo Oil, (SOLO) fell back to third in both tables.
"TD customers also dialed in on Vodafone (VOD) as analyst forecasts raised concerns about the telecoms sector. The company entered the top ten buys table in second place as our customers hoped for a bargain; its share price dropped to a low of 168.90p on Thursday (21 April), having closed the previous day (Wednesday, 20 April) at 177.15p.
"Tesco (TSCO) was another new entrant to the buys table, in fourth place. Figures released last week from the Office for National Statistics said British retail sales increased unexpectedly in March, helped by stronger food sales. However, the supermarket giant recently said that it had not met its UK profit expectations for the last year and expected conditions to remain challenging.
"Miner, Xstrata, (XTA) announced last week that Xstrata Copper has agreed to acquire the E1 and Monakoff copper tenements in north west Queensland in an agreement with Exco Resources, which will allow the company to expand production at its Ernest Henry Mining operation. The company entered the sells table in second place, its share price increasing steadily from an opening price of 1,497p last Wednesday (20 April) to a high of 1,564p (21 April), before falling back slightly as our customers looked to cash in on the rising stock.
"Also new to the sells table, Arm Holdings (ARM) took eighth place ahead of the UK chip designer announcing strong first quarter profits, boosted by sales of smartphones and tablet computers. Meanwhile, drug discovery specialist Sareum Holdings (SAR) entered the sells in 10th place, also taking 10th in the buys."