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Investment News TD Waterhouse Share Dealing Dominated By Barclays Lloyds RBS And Aviva 3352

Written by Editorial Team

TD Waterhouse share dealing dominated by Barclays, Lloyds, RBS and Aviva

22 May 2009 / by Rebecca Sargent
TD Waterhouse share dealing customers remained focussed on the banking and insurance sector this week as markets continued to rally.

Overall, the share dealing experts found that buy trades outnumbered sells by 27 per cent, as financial stocks continued to dominate trading.

However, Barclays shares were an exception to this rule, as sells in the bank were up 25 per cent compared to the week’s buys. Commenting, Angus Rigby, chief executive officer at TD Waterhouse said:

“TD Waterhouse customers were possibly looking at the bank’s recent hike in share price as an opportunity to grab some profit. Shares in Barclays climbed steadily throughout the week to close at 294.75p on Tuesday following news that the banking giant id considering selling its asset management arm, Barclays Global Investors, for around £6.5billion.

“Overall trades in Barclays accounted for more than a fifth (21 per cent) of all top ten trades and more than a quarter of the top ten sells in particular,” he added.

In comparison, TD Waterhouse share dealing customers were in the mood for buying when it came to RBS and Lloyds shares this week, which claimed 28 per cent and 22 per cent of the top ten buy trades respectively.

Mr Rigby added: “Customers may be hoping for possible future gains as talks of selling off the Government’s stakes in both banks are said to be underway much earlier than expected.”

Meanwhile, the insurance sector thrived, claiming more than a quarter of the total top ten trades. Aviva, which is in the process of rebranding Norwich Union, accounted for more than half of all top ten insurance sector trades after it reached a payout deal on two of its top UK life funds.

Mr Rigby said: “The insurance giant is celebrating a recent upgrade from rating agency moody’s to Aa3 with an A1 on its guaranteed senior debt based on its strong franchises and good quality corporate bond portfolio.”

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