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Investing in stock with resources firms 'is a popular move'

Investing in stock with resources firms 'is a popular move'
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Traders are keen to invest in stocks with resource firms, according to a survey by TD Waterhouse.

The asset management firm has revealed the top ten UK equities buys by its customers, with the sector accounting for more than half of the deals in the week to August 24th.

Darren Hepworth, trading and customer services director at TD Waterhouse, said: "As commodity prices fell on disappointing US housing data, retail investors took positions on mining stocks, oil producers and explorers."

Top spot was occupied by BP - which helped boost the FTSE yesterday (August 26th) and enjoyed 28 per cent of the week's top buys chart, with oil firms such as Rockhopper Exploration, Dana Petroleum and Gulf Keystone Petroleum also featuring on the list.

Investing in stock with mining companies was popular, with Xstrata proving the fourth most sought-after business, Russian mining group Petropavlovsk and Kazakh company Eurasian Natural Resources Corp making the top ten as well.

Posted by Clive ArneilADNFCR-1681-ID-800042919-ADNFCR