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Investors looking to profit from bank volatility

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28/03/2008

TD Waterhouse customers have turned their attention to HBOS after rumours about its mortgage-related debt, which later proved to be false.

The owner of Halifax and Bank of Scotland saw its share price plunge by 17% last Wednesday (19 March), only to make a spectacular comeback and register a 15% gain yesterday (27 March).

Angus Rigby, chief executive of TD Waterhouse, said: “Banks continue to be heavily traded by our customers looking to profit from the volatility the sector has been experiencing, fuelled by news such as the recent collapse of Bear Stearns in the US, which created a domino effect this side of the Atlantic.

“However, banking stocks were not the only focus of attention this week as commodities continue to be perceived by some investors as a possible refuge from the credit markets and the falling US dollar.

“BHP Billiton, the world’s largest mining company, traded up by more than 30% year on year and set tongues wagging last week after maintaining the pressure on its takeover target Rio Tinto. Meanwhile, Randgold Resources, the African focused gold mining and exploration business, went up almost 100% year on year.

“Both companies are experiencing a growing demand from the emerging markets providing them with an injection of capital which will help push ahead expansion projects. This has helped them to rank high on our top 10 buys as commodities continue to perform strongly this year.”

 

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