The news that the UK has exited the recession has led to a large number of retail investors trading stocks, an expert has suggested.
The news that the UK has exited the recession has led to a large number of retail investors trading stocks, an expert has suggested.
Angus Rigby, chief executive officer at TD Waterhouse, claimed that the economy’s growth has spurred a “frenzy” of firms from this sector buying shares.
He stated that Barclays has been the most popular trade, with two thirds of the top-ten trades made up of these.
“Mining sector buys also remain a popular strategy this week, with Rio Tinto climbing to sixth place in the buys table. The mining industry’s second largest iron ore producer is subject to an investigation by the European competition regulator,” he asserted.
Mr Rigby also added that United Utilities has been a popular trade this week following new price control rules imposed by Ofwat.
F&C director of UK equity strategy Ted Scott recently described the UK’s exit from recession as a whimper rather than a bang, stating that the country’s growth was lower than predicted.
