TD customers Xcite-d about oil reserve upgrade

Stuart Welch, CEO, TD Direct Investing comments: "Trading among TD customers was up by over a quarter in the week ending Monday 20 February as the FTSE 100 finished the week at 5,945; up nearly 30 points on the previous week. Our customers bought at a ratio of 1.25:1 as buy trades increased by 23% week on week.

"Xcite Energy (XEL) took top spot in both our customers' most popular buys and sells tables, with a buy:sell ratio of approximately 1.4:1, after the British firm announced a huge upgrade to estimated reserves at its Bentley field in the North Sea on Monday. Fellow oil explorer, Gulf Keystone Petroleum (GKP) also appeared in second place in both the buys and sells with a buy:sell ratio of approximately 1.7:1.

"Meanwhile International Consolidated Airlines (IAG), the group that owns British Airways and Lufthansa, was a new entrant to the sells table in tenth place.  This week Virgin Atlantic made a formal complaint to the European Commission about British Airway's purchase of British Midland, of which IAG entered a binding agreement to acquire in December last year."