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Investors eye up banks as bargain hunt resumes

Investors eye up banks as bargain hunt resumes

Category: Investments

Updated: 24/10/2011
First Published: 24/10/2011

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 It is now over 6 months old so the content may be out of date.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 have been snapping up shares in UK banks as the hunt for investment opportunities once again gathered pace.

Lloyds Banking Group regained its position as the most bought stock in the week ending 18 October, with Barclays and Royal Bank of Scotland (RBS) also finding favour to rank second and third.

According to the data from TD Waterhouse, Lloyds accounted for over a quarter of the top ten purchases, while taking into account Barclays and RBS meant banks made up almost half of all trades overall.

Indeed, Barclays was also the most sold stock of the week, with RBS second and Lloyds fourth.

However, the amount of investors selling stocks compared with buying was down on the previous week.

More stocks were bought than sold during the week (by a margin of 1.25:1), reversing the trend seen in the previous week when sells outnumbered buys by almost 2:1.

Amongst the other most popular stocks of the week were the gas and oil explorer Bowleven which caught investors' attention after announcing a 'significant discovery' off the coast of Cameroon which saw its share price rise.

The world's largest hedge fund, Man Group, was also a popular buy.

Daring investors appeared willing to take a chance that the stock was undervalued after the company's share price reached its lowest level for a decade.

The recent volatility seen in the world's stock markets has meant investors have had to remain on their toes.

The problems in the eurozone have played a major part in the ups and downs seen in the FTSE 100 and other major indices of late.

However, the markets have been rising this morning on the hope that a deal to resolve the debt crisis can finally be put together.

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