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Investors look to new opportunities

Investors look to new opportunities

Category: Investments

Updated: 25/11/2011
First Published: 25/11/2011

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 It is now over 6 months old so the content may be out of date.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 broadening their horizons in an attempt to find some value amidst the market slump.

Financial, resource, mining, travel and telecommunications stocks all figured prominently in investors' thoughts in the week ending 22 November, according to TD Waterhouse.

With the seven days in question seeing over 300 points wiped off the FTSE 100, investors were forced to spread their nets far and wide in search of opportunities.

A notable entrant in both the most bought and most sold stock of the week charts was Thomas Cook, whose share price dropped on Tuesday as it announced it would delay the reporting of its full year results.

"The company also said that due to poor trading conditions, it was in talks with banks about the possibility of increasing its financing," added Darren Hepworth, global trading and product director at the investment broker.

"Having closed at 41.62p on Monday (21 November), its share price fell as low as 9.6p the following day.

"The company entered the buys in second place and the sells in sixth as it appeared that some customers wanted to offload the stock while others looked for a bargain."

Amongst the other stocks that investors were increasingly keen to sell were oil and gas explorers, Range Resources and Desire Petroleum.

Both firms had enjoyed a recent boost, with investors seemingly wanting to cash in on their improved fortunes.

However, earning the honour of being both most bought and most sold stock of the week was Lloyds Banking Group.

In recent days the banking giant has attempted to put an end to the uncertainty over who is steering the ship in the absence of its chief executive due to illness, has confirmed it is in talks with two buyers over the sale of 630 of its branches, and has pledged to lend £12 billion to small firms in 2012.

With its share price having slipped to a near all-time low, it seems some investors had had enough and decided to sell, while others felt a bargain could be there for the taking and bought.

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