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Top trades: Investors buy in to Lloyds' rumours

9 February 2010

Investors used the slump in Lloyds Banking Group’s share price yesterday (8 February) as an opportunity to snap up shares at a discount.

Lloyds raced back to the top of Barclays Stockbrokers’ top trades list after the company’s share price nosedived to a seven month low triggered by rumours of a debt-for-equity swap later in the month.

Overall, Lloyds accounted for 13.1 per cent of all buying activity, way ahead of Barclays (9.1 per cent) and Royal Bank of Scotland (4 per cent).

However, in early trading this morning (9 February), the share price had already bounced, gaining 3.2 per cent on its closing value and rising to 48.73p (0945 hrs).

Meanwhile, Xstrata continued to feature in both buy and sell lists, although there was no apparent let up in the appetite for the mining stock amid rumours that a merger with commodities trader Glencore was imminent.

Yesterday’s trading figures show that Xstrata represented 3.1 per cent of all purchases and 3.9 per cent of all sales, according to Barclays Stockbrokers, with further strong volumes predicted today.

Aviva also rose through the top purchases list yesterday buoyed by a trail of reiterated ‘buy’ notes from analysts at Panmure Gordon and Shore Capital. It accounted for 3.3 per cent of all purchase activity yesterday. Aviva’s full year results are due on 4 March 2010.

Barclays Stockbrokers
Top ten trades
Monday 8 February 2010

Buy
1. Lloyds Banking Group, 13.1 per cent
2. Barclays, 9.1 per cent
3. RBS, 4.0 per cent
4. Aviva, 3.3 per cent
5. Xstrata, 3.1 per cent
6. BP, 1.9 per cent
7. GlaxoSmithKline, 1.7 per cent
8. Afren, 1.5 per cent
9. BG Group, 1.5 per cent
10. Petrofac, 1.3 per cent

Sell
1. Barclays, 6.4 per cent
2. Lloyds Banking Group, 5.1 per cent
3. Xstrata, 3.9 per cent
4. Royal Bank of Scotland, 3.4 per cent
5. Petrofac, 2.3 per cent
6. Randgold Resources, 1.6 per cent
7. Taylor Wimpey, 1.3 per cent
8. Afren, 1.3 per cent
9. Yell Group, 1.2 per cent
10. Vodafone Group, 1.1 per cent

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