Banking shares increase sells as FTSE recovers Go compare with our comparison table

Banking shares increase sells as FTSE recovers

09 July 2010 / by Lois Avery

BP shares held their place as the top choice with investors at TD Waterhouse this week.

Sells also increased as the FTSE 100 recovered from its 10 month low with Barclays shares more than doubling.

Angus Rigby, Chief Executive Officer, TD Waterhouse said: "Sell trades increased this week as the FTSE 100 sank to a 10-month low on Thursday before recovering as investors shrugged off concerns about the pace of the economic recovery.”

Banks and oil exploration companies remained popular trades last week, though BP maintained its position at the top of the buys list, and moved to the top of the sells, as the stock rallied amid speculation a sovereign wealth fund may take a stake in the company.

Bank shares such as RBS, Lloyds and Barclays followed closely behind.

Angus Rigby added: "Sells in Barclays more than doubled, propelling the bank up to third position on our top ten sells, after the company held an investor day on Wednesday to discuss its global retail banking businesses.

“Buy trades in the stock fell overall, though it held on to second position in the top ten buys as Mediobanca analyst Christopher Wheeler suggested Barclays should sell its investment banking and wealth management divisions and become a ‘pure' retail bank.”

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