Barclays And Lloyds Shares Continue To Dominate At TD Waterhouse
30 January 2010 / by Andy Davies
Barclays’ shares have bounced back to the top spot at TD Waterhouse share dealing this week as banking shares continue to dominate the top buys and sells.
Replacing Royal Bank of Scotland (RBS) – which fell four places, Barclays became the best buy of this week as its share price fell 1.87 per cent to 5.30 pence, while Lloyds Banking shares held firm to retain second spot.
Commenting, Angus Rigby, chief executive officer at TD Waterhouse suggests that Britain coming out of the recession has “spurred a spending spree” amongst investors.
“This week marked a 61 per cent increase in overall top ten trades, with an impressive ratio of almost three buys for every sell reflecting a corresponding surge in bank buys.
“Banking trades accounted for almost two thirds (63 per cent) of the overall top ten trades, with bank buys 194 per cent ahead of respective sells this week,” he said.
According to Mr Rigby, investors appeared to be taking advantage of the average 6.08 per cent fall in banking sector shares following President Obama’s proposals against proprietary which aim to limit the size and activities of banks operating in the US.
“It will be interesting to see how our customers trade next week after the 2,500 leaders from business, government and civil society return from this year’s World Economic Forum in Davos,” he added.
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