Shares in Lloyds Banking Group remained the most traded at TD Waterhouse last week, despite the fact that investors were snapping up Barclays shares.
Bank shares including Lloyds, Barclays and RBS dominated the top ten buy chart at the share dealing house and claimed 55 per cent of overall top ten TD Waterhouse trades.
But Barclays was the star of the show last week, coming back from top seven buy, to number three as its share price dropped following its FSA penalty. Commenting, Angus Rigby, chief executive officer at TD Waterhouse said:
"In an interesting reversal of positions, Barclays regained its stronghold of the top buys, moving up four positions to return as the third most popular stock, while it fell four positions to seventh place in the sells."
Adding: "With a buy to sell ratio of 3:1, the surge in buying activity could be down to our savvy and informed customers keeping track of two key news stories that resulted in several deep plunges in the bank's share price over the week."
Barclays was fined £2.45million by the FSA for 'serious weaknesses' in failing to report millions of trades – this is the eighth largest penalty ever to be imposed by the Financial Services Authority.
Meanwhile, the banking giant also began its legal challenge against the Competition Commission's decision to ban the sale of payment protection insurance (PPI) at the point of sale. Lloyds Banking Group supports Barclays in its appeal.
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