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Lloyds shares drop into 2nd place at TD Waterhouse

14 August 2009 / by Rebecca Sargent

Shares in Lloyds Banking Group dropped down into second place when it came to buys at TD Waterhouse last week, as RBS stormed into the lead.

Although, the bank remained in top spot for sells - the banking giant's share price shot up early last week before its recent falls as the bank considers a further rights issue. As a result, sells in Lloyds shares accounted for 38 per cent of the top ten sells as shareholders sought to benefit from the bank's profit surge.

Commenting, Angus Rigby, chief executive officer at TD Waterhouse said: "Shares climbed above 104p last Thursday as Lloyds insisted its £4billion losses for the first half of the year signalled the worst of its write-offs with trading looking up.

"The bank is now mulling over a multimillion pound rights issue to enable it to partially withdraw from the Government's asset protection scheme – after concerns that the schemes £16billion fees are too high."

Shares in Lloyds have now started to climb once again after dropping to below 90p earlier this week over rights issue fears.

Share dealing trades in general continued to soar at TD Waterhouse last week, up 46 per cent on the week before. Banking stocks accounted for 74 per cent of all trades as customers reacted to their interim result announcements last week.

RBS was the most popular top ten trade, accounting for 41 per cent of the top ten buys, "as bargain hungry customers scooped up the shares as they fell 12 per cent on the back of the banks £1billion net loss announcement."

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