Investment News Bank Shares Attract Investors As FTSE Climbs 18471239
Bank shares attract investors as FTSE climbs
03 September 2010 / by Rachael Stiles
Bank shares accounted for half of the total top ten trades at share dealing provider TD Waterhouse last week.
As the FTSE was pushed up slightly by positive results from Wall Street and UK companies, investors were drawn towards banking stocks, which accounted for 52 per cent of the top ten buys at TD Waterhouse share dealing, and overall, buys outnumbered sells by a ratio of two to one in the week ending 31 August.
Barclays shares were the most bought stock, and the fourth most sold stock, sparked by rumours that the bank might be about to raise capital by issuing around £770million of Samurai Bonds, according to Darren Hepworth, trading and customer services director at TD Waterhouse.
Meanwhile, RBS shares took the top spot for most traded stock overall, accounting for the second most buys and third highest sells. This was a reaction to news that it might sell off its insurance unit, which, according to EU rules, must be divested by the end of 2013.
In the sells table, Lloyds shares were at the top for the sixth consecutive week, while it dropped from second to fourth position in the top buys table.
“While buying was very much investors’ strategy of choice, this week’s trading figures also show that selling resources stocks was also a popular trade among our customers, with energy and mining firms accounting for almost half of overall top ten sells,” said Mr Hepworth.
© Fair Investment Company Ltd
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