TD Waterhouse – investor interest high in resource stocks

According to TD Waterhouse, the online brokerage group, investor interest has been high in resource stocks lately, with several TD Waterhouse customers seizing the opportunity to increase exposure to the oil and gas sector by buying heavily into Petrel Resources. Share price in the Company is achieving yearly highs of 148.50p, up over 219% this year compared with 12 months ago.

The company also declared that many customers are taking profits with Meridian Petroleum and Max Petroleum reaching number 6 and 8 respectively on their sells list. Share price in Meridian is up over 5% on the previous 7 days and the group is due to issue its interim results on Thursday. However, the share price continues to drop at Max Petroleum in the last week.

TD Waterhouse remarked that investors are selling off stock in Renesola, the solar cell producer. The group warned that following a cut in its 2007 production outlook, its financial target for the year could be adversely impacted. Profits were soaring in early 2007 but August saw share prices down by almost 50% in July, falling 7% this week. In spite of the drop, share growth in the Company is still up by over 70% on the year after exceptional gains from a number of sales contracts wins and production capacity expansion.

TD Waterhouse Top Ten Retail Investor Buys & Sells for week ending 31 August 2007:

Top 10 Buys
1 Barclays
2 Partygaming
3 Royal Bank of Scotland
4 Northern Rock
5 Petrel Resources
6 Standard Life
7 Tanfield Group
8 BHP Billiton PLC
9 Empyrean Energy
10 Worthington Nichol

Top 10 Sells
1 Partygaming
2 Northern Rock
3 BT Group
4 Barclays
5 BHP Billiton
6 Meridian Petroleum
7 Empyrean Energy
8 Max Petroleum
9 Renesola
10 Lloyds TSB Group

TD Waterhouse Top Ten Retail Investor buys and sells are determined as the number of trades carried out in each stock over the week.

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