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Investors stay focused on oil and banks

Investors stay focused on oil and banks

Category: Investments

Updated: 26/05/2011
First Published: 26/05/2011

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 It is now over 6 months old so the content may be out of date.

Investors have continued to focus on oil and financial stocks over the past week, despite the arrival of a newcomer in the FTSE 100.

TD Waterhouse revealed Glencore International has already caught the imagination of investors, despite only starting full trading a week ago.

The floatation of the commodities trader represented London's biggest ever listing, and was the tenth most bought stock of the week.

However, the dominance of oil explorers and financial stocks remained relatively undimmed, accounting for almost 80% of the stocks bought and 94% of the sells respectively.

Lloyds Banking Group and Barclays leapt to the top of the buys table, clinching first and second places respectively, while Royal Bank of Scotland Group (RBS) came in seventh.

The three banking giants accounted for nearly half (45%) of the top ten stocks bought by investors as the 'big five' banks of Barclays, HSBC, Lloyds, Santander and RBS drew criticism for missing business lending targets.

Meanwhile, interest in oil stocks centred around Gulf Keystone Petroleum which was the most sold stock of the week and the fifth most bought.

BP also returned to the top ten in terms of stocks sold, ranking fourth, while Encore Oil came in ninth.

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