Net Buys: What’s going on in the Top 10?

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If you want to find out what are other people investing in at a glance, there’s no better place to start than a Top 10 list. E*Trade’s Top 10 Net Buys is compiled weekly, and makes it easy to spot which stocks are up – and which are down – in terms of popularity, on a week-to-week basis.

Each stock is placed in order of net value (quantity x contract price) of buy orders minus sell orders that are executed each week for E*Trade Australia retail customers. So, let’s find out what’s been happening in the stock market recently.

Which stocks made the Top 10?

In the week ending October 13, the number 10 spot was taken by Paladin Energy Limited (PDN) down from number 5 the previous week (ending October 6). AMP Limited (AMP) was a non-mover at number 9, while Woodside Petroleum Limited (WPL) jumped from number 1412 to number 8.

Regis Resources Limited (RRL) took number 7, up from number 63, while another big mover Macquarie Group Limited (MQG) rose to number 6 from the previous week’s number 1408. Woolworths Limited (WOW) made number 5, up from number 10, while Newcrest Mining Limited (NCM) rose from number 8 to number 4.

The Top 3

The Top 3 spots were taken by three of the Big Four, with Australia and New Zealand Banking Group Limited (ANZ) in number 3 (down from number 2), National Australia Bank Limited (NAB) in number 2 (up from number 4), and Westpac Banking Corporation (WBC) taking the top spot (up from number 7).

Was there any big news that may have spurred these stocks into the Top 3? Well, Westpac won the bidding war for Lloyds Banking Group’s Australian assets, paying $1.45 billion for a number of “strongly performing businesses”. This is Westpac’s largest acquisition since it purchased St George Bank in 2008.

While there really wasn’t much going on for NAB, ANZ was in the news proclaiming its intentions to expand within Asia. International growth could result in some great trade and business opportunities for ANZ, however the bank is still keeping business running smoothly at home, as it continues to remain the most profitable of Australia’s big banks in domestic markets.

Biggest Movers

Why did Macquarie Group jump from number 1408 to number 6? Well, it could have something to do with being last in the bidding war with Westpac over the Lloyds assets. While Westpac was victorious, the race to win spurred on investors, and with good reason – that kind of acquisition could mean business growth for the winning bank, and some good returns for investors.

Woodside Petroleum also leaped into the Top 10, from number 1412 all the way up to number 8. This jump coincided with Woodside’s announcement that its interim dividend for the year would increase by 27.7%. There was also an announcement that the $5 billion North Rankin Redevelopment Project (of which Woodside is a part of) is officially pumping gas.

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