BP shares remained the top buy at TD Waterhouse this week as global recovery fears affected the FTSE 100.
Banking stocks accounted for much of the increase in buys this week, with buy trades in Barclays more than trebling, while buys in Lloyds stock more than doubled.
Buy trades in BP stock outnumbered sells by more than four to one as the company lost its position at the head of the top ten sells list to Lloyds Banking Group . But they maintained their spot at the top of the buys table.
BP shares have been the top trades at TD Waterhouse for several weeks as investors took advantage of their falling share price, following the Deepwater Horizon explosion in the Gulf of Mexico and the controversy surrounding the ongoing clean up operation.
Angus Rigby, chief executive officer at TD Waterhouse said: "Buy trades jumped by more than a fifth this week, while sells fell by more than half, as TD Waterhouse customers took advantage of a decline in the FTSE100 spurred by new fears about the pace of the global recovery and the financial health of Europe's banks.
"Oil exploration stocks remained popular, driven by news from wells as far apart as New Zealand and the North Sea, while Connaught plc entered the top ten as public spending cuts in the Emergency Budget led the social housing provider to issue a profit warning.”
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