Market update (PM): Investors high on Glaxo drug news
GlaxoSmithKline reappeared in the top ten purchases this morning after investors responded to news the company was ceasing research in some new research areas.
The pharmaceutical stock was up 1.1 per cent (1400 hrs) to £12.19 after the company confirmed it was stopping research into neuroscience areas, saving £500 million in costs by 2012.
As a result, four per cent of all TD Waterhouse purchase trades were GlaxoSmithKline this morning, although buying activity outweighed sales by around 3:1.
Elsewhere, Xstrata’s share price continued on an upward trajectory after dipping briefly into negative territory after an initial sprint start in the morning session.
However, the stock gathered further momentum later on, reaching £9.69 (1400 hrs), up 1.8 per cent. Investors at remained confident, with Xstrata accounting for 9.5 per cent of all purchase activity.
The banking stocks showed no signs of disappearing from the top trades lists. Lloyds Banking Group remains the stock of choice today, accounting for over a third (38.75 per cent) of all buys, with investors taking advantage of the bank’s falling share price.
TD Waterhouse
Top ten trades
Monday 8 February 2010 (morning session)
Buy
1. Lloyds Banking Group, 38.75 per cent
2. Barclays, 14 per cent
3. RBS Group, 9.5 per cent
4. Xstrata, 9.5 per cent
5. Aviva, 6.5 per cent
6. Afren. 4.5 per cent
7. Watermark Global, 4.5 per cent
8. BP, 4.5 per cent
9. Rio Tinto, 4.25 per cent
10. GlaxosmithKline, 4 per cent
Sell
1. Royal Bank of Scotland, 19.5 per cent
2. Lloyds Banking Group, 15.75 per cent
3. Xstrata, 14 per cent
4. Barclays, 11.5 per cent
5. Rangold Resources, 8.25 per cent
6. Petrolatina Energy, 7 per cent
7. Afren, 6.75 per cent
8. Gulf Keystone, 6 per cent
9. Nighthawk Energy, 6 per cent
10. Vodafone Group, 5.25 per cent
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Recommendations
Top Ten Life Funds
| Fund | Offer | 1y | 3y | 5y |
|---|---|---|---|---|
| UBS Life Structured Credit A | 85.39 | 230.1 | n/a | n/a |
| Skandia Finland FIM Russia | 11.36 | 185.6 | -3.8 | 79.2 |
| Skandia Finland JPM New European | 1.96 | 140.9 | -9.1 | n/a |
| Canlife SVM UK Opportunities LS4 Acc | 103.40 | 133.4 | -13.8 | 35.5 |
| Skandia Finland Alfred Berg Ryssland | 0.86 | 132.8 | n/a | n/a |
| AXA JPM New Europe | 193.80 | 132.1 | n/a | n/a |
| Zurich Sterling JPM New Europe | 258.80 | 130.6 | n/a | n/a |
| L&G SVM UK Opportunities | 100.32 | 130.0 | -16.4 | n/a |
| Skandia JPM New Europe | 253.10 | 128.8 | 18.2 | 98.1 |
| Merch Inv Sanlam Global Financial S6 | 106.50 | 126.4 | n/a | n/a |
Share dealing in depth
The Share Centre to assist Wills & Co clients 17 February 2010
The Share Centre has confirmed it will take over management of the 11,000 accounts from Wills & Co stockbrokers after the company announced it was closing.
- UK exits recession but investors remain cautious 26 January 2010
- China's cap ad call triggers commodities sale 20 January 2010
- Tradefair gears up for CFD launch 19 January 2010
Guides
Sterling is in for a rough ride 9 March 2010
Stuart Frost, co-fund manager of the Threadneedle Absolute Return Bond Fund, comments on the outlook for Sterling.
- Witan to offer ISA promotion 12 January 2010
- Cheap and cheerful sharedealing 13 November 2009
- Outsmart the markets 8 September 2009
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