TD Waterhouse reports rise in retail share dealing while HSBC joins RBS, Lloyds and Barclays in the top 10

16 May 2009 / by Rachael Stiles
TD Waterhouse has reported a surge in purchasing amongst its share dealing customers this week, with sales up 82 per cent, accounting for double the number of stocks sold.

Overall, the share dealing account provider recorded a 26 per cent increase in trading activity.

The focus of trading remained on the banking industry, as was the case last week, but the rush to take profits was replaced with a surge in investing in the banking industry, as the number of sells of banking stocks fell 40 per cent, compared to a 79 per cent rise in the number of shares bought in the banking sector.

This week, HSBC joined Royal Bank of Scotland, Lloyds Banking Group and Barclays in the top 10 buys, following the announcement of the group's quarterly performance, its best ever results.

Angus Rigby, chief executive officer at TD Waterhouse share dealing, comments: "RBS sits in pole position in this week's sells table, as Credit Suisse Group AG analysts claimed they were "turning more cautious" on the UK banking industry. Meanwhile, RBS head of global banking and markets, John Hourican, has reportedly been awarded a cool £11m worth of shares and options to successfully deliver a five year turnaround plan."

While the banking sector has been on the rise in the last few weeks, the insurance sector has not fared so well, with TD Waterhouse reporting a 46 per cent drop in activity since last week.

Mr Rigby adds: "Overall, insurance stocks accounted for just 11% of our top ten sells table. Insurance giant Aviva has dropped down four positions to tenth place in this week's sells table as it considers selling its Australian business, valued at up to AUS$1bn. Legal & General, however, continues to hold fourth place in the sells but has dropped two positions to ninth place in the buys table."

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