Update filed at market close

Lloyds Banking Group bounced to the top of the gains list today after George Osborne’s first budget as Chancellor of the Exchequer.

The banking stock rose 4.3 per cent to 59.1 pence despite the introduction of a banking levy which is to be introduced to all banks operating in the UK from January 2011.

Lloyds’ performance was enough to grab top spot from this morning’s top performer – hotel and restaurant chain Whitbread.

The company was up 3.6 per cent by the end of play at 1,531 pence, having announced like for like sales for the 13 weeks to 3 June 2010 up 10.5 per cent at Premier Inn (against the previous year).

Costa Coffee’s like-for-like statistics were also pleasing, up 8.5 per cent on the previous year.

Alan Parker, chief executive of Whitbread, said total sales for the first quarter – across all brands – were up 13.5 per cent. Intertek completed the top three today, up 2.8 per cent at 1,504 pence.

Cruise operator Carnival was the worst performer on the index today, down 4.9 per cent at 2,427 pence after investors were spooked by the second quarter earnings announcement which showed that profitability had been affected by the increase in fuel prices.

BP showed no end to recent performances as investors continued to fret about the Gulf of Mexico disaster, sending it down still further – shedding another 4.4 per cent at 334.2 pence.

BG Group was the third worst performer on the index, down 3.6 per cent at 1,084 pence.

Top ten trades
22 June 2010 (until noon)
Source: TD Waterhouse

To order free annual reports of the companies below, please click here.

Buy
1. BP, 34.3 per cent
2. Barclays, 14.3 per cent
3. Yell Group, 8 per cent
4. Kea Petroleum, 7.4 per cent
5. Lloyds Banking Group, 7.4 per cent
6. Xstrata, 7.2 per cent
7. Royal Bank of Scotland, 5.7 per cent
8. Tesco, 5.5 per cent
9. Stanelco, 5.3 per cent
10. GCM Resources, 5.1 per cent

Sell
1. BP, 17.7 per cent
2. Lloyds Banking Group, 16.2 per cent
3. Royal Bank of Scotland, 15.5 per cent
4. Barclays, 10.8 per cent
5. Rockhopper Exploration, 8.3 per cent
6. Kea Petroleum, 8.3 per cent
7. GCM Resources, 6.1 per cent
8. Xstata, 6.1 per cent
9. Gulf Keystone, 5.8 per cent
10. Dominion Petroleum, 5.1 per cent