The banking sector has accounted for two thirds of the ten most popular trades this week, which could be due to the run-up to reporting season for the City giants.
The banking sector has accounted for two thirds of the ten most popular trades this week, which could be due to the run-up to reporting season for the City giants.
Angus Rigby, chief executive officer at TD Waterhouse, claimed that Barclays has led the way in sales, with shares jumping in price after the sale of one of its fund management units.
Recent announcements of its strong profits and the announcement that the chief executive and president of the bank will be waiving their bonuses this year.
Other firms that received large numbers of retailer buys and sells included Lloyds, the Royal Bank of Scotland and BP.
Mr Rigby added: “In the mining sector, Xstrata was the highest climber – accounting for 40 per cent of overall top ten mining trades – after completing the sale of its 70 per cent interest in El Morro SCM to New Gold for $463 million (£300 million).”
He recently claimed that UK hedge funds are entering a buying frenzy, with house building one of the key areas that experienced growth.
