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TD Waterhouse reveals top buys and sells

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TD Waterhouse has published its top 10 investor buys and sells for the week ending 9 January.

Barclays, Marks and Spencer Group and Lloyds TSB are the top three buys, while Victoria Oil & Gas, BP and Vodafone Group are the top three sells.

Angus Rigby, chief executive of TD Waterhouse, said: “UK investors turned their attention towards retailers this week in what has been an unsettling period for the sector following weak Christmas sales. TD Waterhouse customers increased their exposure to Marks and Spencer Group (M&S), despite a disappointing trading statement issued by the Company on Tuesday.” 

M&S announced that like for like sales during the 13 weeks to 29 December had fallen 2.2% due to challenging market conditions in November and December. This news led to a slide in Marks and Spencer Group’s shares which lost a fifth of their value, plummeting to a 52-week low of 395p. Recently knighted M&S chief executive, Sir Stuart Rose, called for a cut in interest rates to ease consumer concerns and stimulate growth but his wishes were not heeded by the Bank of England, which left interest rates unchanged at 5.5%.

The MPC has instead opted for more time to assess the extent of the UK’s economic slowdown and inflation levels and will reconsider cutting rates in February.

Rigby added: “Despite a current slide in share price to annual low this week, TD Waterhouse customers increased their exposure in the housing sector, buying into housebuilder Barratt Developments, with boosted optimism from recent analyst forecasts of a possible upturn in the sector from mid-2008.”


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