TD customers look to oil and miners in 2012
Darren Hepworth, Global Trading and Product Director, TD Direct Investing comments: "Oil and mining stocks dominated TD customer trading this week accounting for over 56% of the top ten buy and sell trades in total, an increase of 3% on the previous week. Banks were pushed firmly down the buys table, though Lloyds (LLOY), Barclays (BARC) and RBS (RBS) entered 2012 in the top three sell positions respectively. In the week ending Tuesday 3 January the FTSE 100 reached 5,700 as TD customer trading began to gain momentum following the Christmas holiday, with a 31% increase in trading on the previous week.
"Oil and gas stocks remained at the top of the buys tables as we began 2012, with Range Resources (RRL) hitting the top spot replacing Gulf Keystone Petroleum (GKP), which was in first place at the end of 2011 (week ending Tuesday 28 December) with 23.3% of the top ten buy trades. Range Resources - the dual listed (AIM and ASX) oil and gas exploration company - announced on Friday 30 December that it had successfully drilled and logged a well in Trinidad and further progressed at its Albrecht #1 appraisal well on the North Chapman Ranch Project in Texas. Initial production on the Morne Diablos concession in Trinidad should begin in the next week and exploratory drilling for deeper targets is expected this year. Shares closed at 8.81p on Tuesday 3 January, up 12% on the shares' close on Thursday 29 December at 7.85p.
"TD customers also appeared to favour AIM listed resources stocks with Leed Petroleum Plc (LDP) entering the top ten buys in sixth and Zoltav Resources (ZOL) maintaining its tenth position in the buys table. Shares in Zoltav - the natural resources company owned by Roman Abramovich's son, Arkadiy - have risen 91%, from 3.38p on 1 December to 6.46p at close on Tuesday (3 January).
"Meanwhile Tesco (TSCO) entered the top ten sells in tenth place as supermarkets fought a price war over the Christmas period which is set to intensify in the next few weeks. Tesco entered the third wave of its Big Price Drop in the week commencing Wednesday 28 December while Sainsbury's (SBRY) continued its brand match scheme, in which it promises to be cheaper than rivals on a basket of branded groceries, and Morrison's (MRW) announced it would cut the price of thousands of items.
"FTSE 50 constituent Blinkx (BLNX), the world's largest search engine, retained its place in the top ten buys table following its announcement of a partnership with LifeMinute.TV on Tuesday 3 January. The partnership gives Blinkx users access to lifestyle video content including music, movies, beauty news, travel and finance. The agreement with LifeMinute will allow Blinkx to use its proprietary AdHoc platform to place relevant advertising against the LifeMinute.TV videos and includes a revenue sharing arrangement."