Leading share broker TD Waterhouse has reported strong growth over the course of the last week in trade of banking stocks, which have seen something of a resurgence off the back of strong sessions in Wall Street.
Of the largest ten trades executed through the TD Waterhouse platform, around 52% were banking stocks, with traders investing in stocks twice as heavily as those selling. As a result, the prices for banking securities have risen considerably on the FTSE, which has been buoyed by and helped the prices of other major tradable assets.
The leading banking stock was Barclays, which proved most popular amongst buyers and the fourth most common amongst sellers, amidst speculation of a forthcoming bond issue to shore up its balance sheet. RBS was also a strong performer, traded heavily in both directions on the potential it may have to offload its insurance division over the next three years.
Natural resources were heavily sold over the same period, as services stocks presented a more viable alternative trade. With the prospect of further growth, particularly in the banking sector as the economy moves out of recession, these early signs of growth from the industry appear to have been sufficient to buoy investor interest in returning to financial services investment.