The past week has seen investors frantically snapping up shares across the country, but TD Waterhouse figures show that Lloyds Banking Group is still number one.
Investors purchased 70% more shares in the week leading up to Tuesday June 7 than in the previous week, more than half of the buy-and-sells top ten list was filled by new entries, but, in spite of the heavy competition, Lloyds held onto its position as most-purchased equity. Lloyds was also the week’s third most-sold stock overall, coming only one place behind Barclay’s and five places ahead of RBS.
This is not the only reason the bank has been in the news this week. Vince Cable made headlines when he advised the UK’s biggest lenders to meet their targets or risk having stricter tax measures imposed on them.
Furthermore, the International Commission on Banking (ICB) voiced its fears that selling 600 branches would not be enough to generate market competition, but Lloyds chief executive Antonio Horta-Osorio dismissed the claim. Antonio argued that there was no need to change the original plan, as there was “overwhelming evidence” that the 600 branches would be enough to create a viable competitor.
