Lloyds Banking Group most traded after Spending Review

28 Oct 2010 | News - Comment now

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Lloyds Banking Group most traded after Spending Review

Shares in Lloyds Banking Group were the heaviest traded in the week after the Comprehensive Spending Review, according to TD Waterhouse.

Darren Hepworth, trading and customer services director at TD Waterhouse,  said the part-nationalised bank accounted for a quarter of the overall top ten trades trough TD Waterhouse.

He said the meeting of the G20 finance ministers in South Korea had also brought the banking sector to many investors' attention. However, Hepworth said interest in natural resources stocks also remained high on the agenda.

Hepworth said, 'While these high-profile events drew attention to the banking sector, it was the trading of resources stocks that remained most popular with our customers, accounting for 57 per cent of our overall top ten trades in the week ended 26 October 2010.

'Xcite Energy entered the buys in fourth place and was the second most popular sell after announcing that its 9/3b-6 well on the Bentley field in the North Sea is progressing on schedule and has reached target depth for the first part of its planned work programme.'

He added, 'Max Petroleum jumped from seventh to third position on the buys and entered the sells at fourth after the oil explorer found additional oil reserves while drilling for its target reserves at the Block A Uytas prospect in Western Kazakhstan.'

'Berkeley Mineral Resources (BMR), a UK-based mineral processing company, entered the top ten buys at seventh place after its share price rose 87% over the week in the lead up to an issue of warrant shares on Tuesday 26 October.

'Finally, Victoria Oil & Gas entered the buys in eighth and the sells in tenth position after announcing that proven gas reserves at its Logbaba project in Cameroon had increased over four times following a review.'

Top ten trades for week ended 26 October 2010

BUY
1. Lloyds Banking Group
2. Barclays
3. Max Petroleum
4. Xcite Energy
5. Royal Bank of Scotland Group
6. Desire Petroleum
7. Berkeley Mineral Resources
8. Victoria Oil & Gas
9. BP
10. Gulf Keystone Petroleum

SELL
1. Lloyds Banking Group
2. Xcite Energy
3. Royal Bank of Scotland Group
4. Max Petroleum
5. Desire Petroleum
6. Barclays
7. BP
8. Xstrata
9. Encore Oil
10. Victoria Oil & Gas

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