Report filed at market close

Companies in the mining sector finished the day with the largest gains following news they were to take on the planned super tax announced by the Australian authorities earlier in the week.

The miners are currently in discussions with the Australian Federal Government over a proposed 40 per cent tax on future resources projects, but they have vowed to fight the plans using their considerable planned investment as leverage.

Investors responded warmly to this fighting spirit with Rio Tinto ending the day as top dog, rising 3.1 per cent to 3,202 pence, ahead of sector mates Randgold Resources (up 2.5 per cent at 5,720 pence) and Xstrata (up 2.1 per cent) to 1,016 pence.

At the other end of the table Wolseley was hardest hit, dropping 8.2 per cent to 1,410 pence, followed by Thomas Cook, down 7.1 per cent at 215.7 and Associated British Foods, down 6.4 per cent at 916.5 per cent.

Rockhopper Exploration takes the poll position on today’s sells table accounting for 20.3 per cent after investors cashed in as the share price rose from 36.7 yesterday morning to 99.2 today as at 0845hrs. 

The oil exploration company announced yesterday that its Sea Lion project had drilled to 3,000 metres and data shows the well to be an oil discovery. Rockhopper is the first to find oil off the Falklands.

Top ten trades
Friday 7 May (until noon)
Source: TD Waterhouse

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Buy
1. Lloyds Banking Group, 26.7 per cent
2. Barclays, 20.6 per cent
3. Royal Bank of Scotland, 17.5 per cent
4. Rockhopper Exploration, 11.4 per cent
5. Taylor Wimpey, 4.9 per cent
6. Desire Petroleum, 4.6 per cent
7. BP, 4.2 per cent
8. Aviva, 3.7 per cent
9. Barratt Developments, 3.2 per cent
10. BT Group, 3.2 per cent

Sell
1. Rockhopper Exploration, 20.3 per cent
2. Royal Bank of Scotland, 19.1 per cent
3. Lloyds Banking Group, 18.4 per cent
4. Barclays, 13.8 per cent
5. Desire Petroleum, 7.6 per cent
6. Xstrata, 6.6 per cent
7. Rio Tinto, 4.1 per cent
8. HSBC Holdings, 3.6 per cent
9. Gulf Keystone, 3.3 per cent
10. Vodafone Group, 3.2 per cent