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Banking share dealing rally slows down at TD Waterhouse

21 August 2009 / by Rebecca Sargent

The banking share dealing rally at TD Waterhouse slowed last week, as banking stocks accounted for just over half of overall trades, compared with 74 per cent the week before.

Lloyds shares remained top of the sells though, as speculation over future rights issues from the banking giant continued.

However, share dealing account holders looked to the energy sector for a boost. Angus Rigby, chief executive officer at TD Waterhouse comments:

"This week, our customers turned to the commodities sector instead with long-term customer favourite Xsantra climbing two positions in the top ten buys and making a new entry in the sells."

According to Mr Rigby, mining stocks were amongst the heaviest fallers on the FTSE at the start of last week: "TD Waterhouse customers may have noticed opportunities in the sector as miners traditionally dependant on a healthy global economy to stoke demand for commodities, were among the heaviest fallers on the FTSE at the start of the week."

The FTSE 100 had a bad week last week, falling sharply on Monday, with a close of 4,625 – 88 points down as Xstrata became its worst performing stock. However, Xstrata rallied again on Tuesday, prompting some investors to cash in on the share price hike of 3.23 per cent.

Other energy companies grabbing TD Waterhouse customers' attention included Victoria Oil and Gas, which made its first appearance into the top ten last week, with buys 52 per cent higher than sells ahead of its half year results next week.

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