Lloyds Banking Group shares have bounced back to be the top sell at TD Waterhouse this week, while Royal Bank of Scotland (RBS) shares continue to prove popular with investors.
The latest weekly figures from the share dealing house has revealed that shares in Lloyds jumped up one place to become the top sell with Barclays shares slipping two places to third, as RBS moved up one place to second, accounting for 20 per cent of the overall top ten sells.
Commenting, Angus Rigby, chief executive officer at TD Waterhouse, attributes speculation regarding RBS's plans to buy back at least £10billion of its £28billion debt as a key factor behind the increasing interest from investors.
"The banking giant is expected to say that it hopes a vast restructuring of its balance sheets will boost its capital strength as well as its relationship with bond investors. Sells in RBS were five per cent higher than buys as TD Waterhouse customers looked to cash in on a 38.51 per cent (12.17p) rise in the bank's share price over the past month," he said.
Despite sells in RBS shares being higher than buys, the bank retained its title as the top buy of the week, while Lloyds shares held on to second place.
This week saw sells 15 per cent ahead of buys as "customers looked to cash in on previous gains in banking stocks", with the banking sector accounting for almost two thirds of the top ten buys and sells as shares in the sector gained 0.79 per cent.
Meanwhile, the mining and energy sector performed well this week as Desire Petroleum "dug deep" into the top ten buy and sells, accounting for 29 per cent of buys and sells rising three places to third in the top buys, while it entered the top sells in seventh place.
"Desire accounted for 28 per cent of all mining/gas trades in the top ten following rumours that the oil explorer is very close to discovering oil at its Liz prospect based off the Falkland Islands. The firm's share price rose 10.5 per cent (103p) on Monday (15 March) following further speculation that it had sent away oil found at the well for testing," he said.
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