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Investors snap up shares as Lloyds stays top

Investors snap up shares as Lloyds stays top

Category: Investments

Updated: 10/06/2011
First Published: 10/06/2011

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 It is now over 6 months old so the content may be out of date.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 raced to snap up shares in the last week, but it is Lloyds Banking Group that has remained the most popular pick.

Figures from TD Waterhouse show that customers purchased 70% more shares in the week to Tuesday 7 June, compared with the previous seven days.

Investors appeared to mix up their stock choices in the week, perhaps in anticipation of major announcements on the recovery in the US.

New entrants to the buys and sells top ten tables made up almost half of all top ten trades.

However, there was a familiar look to the top of the buys table, with Lloyds Banking Group retaining its position as the most purchased equity.

The group made headlines this week as it was among the banks targeted by Business Secretary Vince Cable, who warned that the UK's biggest financial institutions could face less lenient taxation polices if they fail to meet lending targets.

In addition, the group's chief executive, Antonio Horta-Osorio, rejected claims made by the Independent Commission on Banking (ICB) that selling 600 branches will not be sufficient to create a viable challenger in the banking market.

The ICB has recommended that Lloyds should sell more than the 600 branches, but Horta-Osorio disagreed, saying that there was overwhelming evidence that original plans would create a credible and viable competitor.

Lloyds was also the third most sold stock in the week, while the Royal Bank of Scotland Group was the eight most sold share.

Rounding up the fortunes of the UK's banks, Barclays featured as the second most bought stock.

Away from the banks, Rockhopper Exploration – the only company to find oil in the Falkland Islands so far – was the most sold stock.

It confirmed a significant discovery at one of its sites last week, saying it would look to establish its commercial viability.

"TD customers appeared encouraged to cash in as the company's share price lifted that morning to 279p having closed below 215p the previous night, ultimately leading to the oil explorer's first place in the sells," said Darren Hepworth, trading and customer services director at the broker.

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