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Banks loom large in investors’ thoughts

Banks loom large in investors’ thoughts

Category: Investments

Updated: 01/12/2011
First Published: 01/12/2011

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 It is now over 6 months old so the content may be out of date.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 featured prominently in the minds of investors in the last week, but it was travel agent Thomas Cook which really got pulses racing.

Total trades amongst investors increased by almost 160% in the week to Tuesday 29 November, figures from TD Direct Investing show.

The usual suspects - Lloyds Banking Group, Royal Bank of Scotland and Barclays - featured heavily in a week where trades rose by 160%, as the second, third and fourth most purchased stocks respectively.

Against the backdrop of an announcement by the Chancellor George Osborne that the bank levy would be increased, Lloyds Banking Group was also the second most sold share, with Barclays and Royal Bank of Scotland following in third and fourth.

Thomas Cook that topped both the buys and sells table after the travel firm struck a rescue deal with its banks for £200 million to allow it time to recognise its business.

The markets appeared to react positively to the news, as the company's share price closed at nearly 20p on Tuesday (29 November) having dropped as low as 10.72p the previous Wednesday (23 November), before the additional financing had been agreed.

"The top ten buys and sells comprised the same stocks, albeit in a different order, as it appeared some customers were looking to shed stocks that others saw as bargain buys," Darren Hepworth, TD Direct Investing's global trading and product director said.

"Customers bought at a ratio of just over 1.6:1 in comparison with sells during a week in which the FTSE 100 made small gains, up 2.5% on last week to close at 5,337 on Tuesday (29 November)."

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