TD customer buys increase in strong week of trading
Darren Hepworth, Global Trading and Product Director, TD Waterhouse comments: "The buy:sell ratio among TD customers was 1.25:1 in the week ending Tuesday, 1 November, as markets continued to struggle in the face of the European debt crisis. The FTSE 100 closed the week at 5,415, over 100 points lower than at the same time last week, as Britain's banks took the top three spots in our customers' buys and sells tables.
"Banking stocks, Lloyds Banking Group (LLOY), Barclays (BARC) and Royal Bank of Scotland Group (RBS), comprised nearly 65% of our overall top ten customer trades this week. Lloyds remained in top spot in the buys and dropped to second in the sells, while Barclays was second and first in the same tables respectively. RBS, meanwhile, was third in both the buys and sells tables.
"Man Group (EMG) was this week's highest new entry, accounting for 6.3% of the top ten buy trades overall and taking fourth place in the table as a result. TD customers looked to make the most of the alternative investment management firm's falling share price - which closed the week ending Tuesday, 1 November at 138p, down 19p on the same time last week - ahead of its pre-tax profits announcement issued today.
"Another new entrant to our tables, Sirius Minerals (SXX), had two pieces of upbeat news this week including positive drilling results from its York potash project last Thursday, 27 October and the awarding of £2.8m in government funding to develop a major geosciences centre at the same site. Sirius took eighth place in the buys and seventh in the sells, with its share price spiking above 20p on Tuesday, 1 November, having closed the previous Wednesday at below 12p, prior to the announcements.
"Glencore International Plc (GLEN) entered our top ten sells table in 10th place after news broke on Monday, 31 October that talks between the commodity giant and Indonesia's Bakrie Group had fallen through. Instead, Bakrie had turned to Indonesian investors PT Renaissance Capital to help them avert defaulting on a £839.7 million loan. Glencore's share price dipped below 412p on Tuesday having closed at nearly 441p on Monday."