Share Dealing News BP Shares Snapped Up By Investors

Written by Editorial Team
11 June 2010 / by Lois Avery

BP shares have topped the buys table at TD Waterhouse as investors take advantage of the oil giants weakening position.

BP maintained first place in the top ten buys, with buy volumes increased by more than 50 per cent this week despite the decline in the company’s share price.

Yesterday BP shares plummeted by as much as 16 per cent following concern about the cost of dividend payments to shareholders.

BP, once Britain’s largest company, has lost almost half of its stock market value, about £56 billion, since the explosion on April 20 and shares in the company have been under renewed pressure this week after political pressure from President Obama.

The company is blamed on the cost of cleanup efforts in the Gulf of Mexico but it seems this is yet to deter our customers.

Angus Rigby, Chief Executive Officer, TD Waterhouse said: “Buys almost doubled this week, exceeding sells by more than two to one, with energy companies maintaining their popularity among TD Waterhouse customers led once again by super-major BP (BP) and Falklands-focused explorer Rockhopper Exploration.

Rockhopper also jumped to the head of the most-sold list knocking last week’s leader on the sells list, Lloyds Banking Group into third place.

The banking groups, RBS, Lloyds and Barclays, have seen their lead positions in the buys and sells tables pushed down over the last two weeks as investors concentrate on trading in oil stocks.

© Fair Investment Company Ltd

IMPORTANT: No news, feature article or comment should be seen as a personal investment recommendation. Before deciding to invest, you should ensure that you are familiar with the risks associated with a particular plan. If you are unsure of the suitability of a particular product, both in respect of its objectives and risk profile, you should seek independent financial advice. The value of shares, ETFs and ETCs, bought through a share dealing account, stocks and shares ISA, or a SIPP can fall and rise, which could mean getting back less than you originally put in. Past performance is no guarantee of future results. Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 67%-81% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how spread bets and CFDs work and whether you can afford to risk losing your money. Professional clients can lose more than they deposit. All trading involves risk. Tax treatment of ISAs depends on your circumstances and is based on current law, which may be subject to change in the future. ISA transfer charges may apply; please check with your provider.