Investment News Bank Shares A Popular Sell For Retail Traders 18471443
Bank shares a popular sell for retail traders
11 November 2010 / by Paul Dicken
Bank shares were the most popular sell for retail traders following the monetary policy developments in the United States, TD Waterhouse has said.
The stock broker said the announcement by the US Federal Reserve on 3 November that it would embark on further quantitative easing, putting up to $600billion in to the US economy, had given bank shares a short term lift.
Darren Hepworth, trading and customer services director at TD Waterhouse, said: “Barclays sells more than tripled, propelling the bank from seventh to top of the sells table. Barclays announced a 76 per cent in quarterly profits on 9 November, but insisted that its capital remains strong.”
He said Lloyds Banking Group remained at second place in the top ten sells list, while Royal Bank of Scotland was the subject of heightened trading activity following its results announcement. The bank was fourth in the top sells list and second in the top buys list.
Oil explorers remained a popular buy trade for TD Waterhouse customers, Xcite Energy was top of the buys list, replacing last week’s top buy Desire Petroleum which was at number eight, with Gulf Keystone Petroleum at number five.
With the price of Rolls Royce shares sliding, following problems with A380 planes that use Rolls Royce engines, Hepworth said the company was the tenth most popular buy.
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