Banking bonanza in the stock markets - Investments - News - Moneyfacts


Banking bonanza in the stock markets

Banking bonanza in the stock markets

Category: Investments

Updated: 19/09/2011
First Published: 19/09/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Banks tickled the fancy of traders up and down the land last week, accounting for more than half of share purchases.

In the week to Tuesday 13 September, the UK 's banking giants attracted almost 55% of customer buys, figures from TD Waterhouse show.

The figures came against the backdrop of the International Commission on Banking (ICB) reporting its final recommendations.

The ICB report called for increased competition among banks and will also force them to ring fence their retail operations, in addition to increasing the amount of loss-absorbing debt they hold.

The CEO of Barclays, Bob Diamond, said he welcomed the clarity provided by the ICB's final report on banking, and it was his company that was in first place in top ten most popular buys table this week.

Barclays accounted for nearly 26% of top ten buys and almost 17% of the top ten sells, while Lloyds Banking Group was placed second place in both tables, accounting for 17.6% of top ten buys and 20% of the top ten sells.

Royal Bank of Scotland Group was the third most purchased stock in the week.

Despite all of the news surrounding banks, Gulf Keystone Petroleum was the most sold stock in the week.

"The oil and gas explorer appears to have been attracting the attention of TD customers after announcing successful test results from its Shaikan block in the Kurdistan region of Iraq on Monday, 5 September," said Darren Hepworth, trading and customer services director at TD Waterhouse.

"Gulf Keystone's share price rose by 43% to just over 183p during the week ending Tuesday, 13 September.

"Gulf Keystone was also the fifth most popular buy ahead of Wednesday's release of its interim results and its plans to move to the FTSE 250 from AIM next year."

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