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Banks and oil dominate trading

Banks and oil dominate trading

Category: Investments

Updated: 29/07/2011
First Published: 29/07/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Investors looked to place their money in banks and oil over the last week, as debt talks continued to dominate the financial agenda.

Financial stocks remained in focus in the week to Tuesday 26 July as US lawmakers struggled to agree on raising the nation's debt ceiling.

Meanwhile, in Europe the debt crisis continued to affect the markets despite the agreement to a €109 billion Greek bail-out last Thursday (21 July).

Investors purchased and sold banking stocks in large numbers over the last week.

Figures from TD Waterhouse show that Barclays, Lloyds Banking Group and Royal Bank of Scotland were the first, second and third most bought equities in the week to Tuesday 26 July.

"The dominance of the financial stocks was also replicated in the sells table where Lloyds retained pole position, with Barclays moving up from fourth to second place and RBS climbing from fifth to third," said Darren Hepworth, trading and customer services director at TD Waterhouse.

"Oil stocks were also very popular in the week ending Tuesday 26 July, making up five of the seven new entrants across both tables and accounting for just over a third of our customer top ten trades this week."

Gulf Keystone Petroleum, Sound Oil, Range Resources and BP completed a run of new entrants in the buys table, taking fourth to seventh places, respectively.

Away from banking and oil, Aviva was the seventh most purchased share as the group's share price rose after rumours of a possible bid for the insurer.

Unconfirmed details last Thursday afternoon were that the bid had been pitched at £6 a share, valuing Aviva at £17 billion.

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