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Discovering which shares others are shopping for and promoting can provide worthwhile insights for traders. They’ll illustrate traits and generate concepts, serving to you notice alternatives or dangers early on. With this in thoughts, I’ve not too long ago been testing essentially the most purchased FTSE 100 shares amongst Hargreaves Lansdown traders.
On the High 10 checklist have been Lloyds (LSE:LLOY), BP (LSE:BP.) and Worldwide Consolidated Airways (or IAG) (LSE:IAG). However these are three shares I’ll be avoiding in any respect prices.
Right here’s why.
Lloyds
Lloyds makes nearly all of its earnings from the UK. So with the home financial system persevering with to be tough, I wrestle to see how the Black Horse Financial institution will generate significant revenues and earnings development, as customers and companies rein in spending.
I’m additionally involved that the Financial institution of England might closely slash charges to spice up the stagnant financial system as inflation drops. This can put a extreme squeeze on margins which can be already being hit by rising competitors.
On the plus aspect, falling charges will increase the housing market, a essential space of profitability for Lloyds. However on the entire, issues are trying lower than rosy for the financial institution, for my part.
Lloyds’ share worth is up 72% in 2025, leaving it buying and selling on a ahead price-to-earnings (P/E) ratio of 13.1 instances. This makes it the UK’s costliest banking share, which for my part doesn’t mirror the dimensions of the long-term challenges it faces.
IAG
The IAG share worth has swept 32% larger to date this yr, additionally outpacing the broader FTSE 100’s 19% rise. I additionally assume this run appears frothy within the present local weather.
Airline firms are extremely cyclical, and so IAG is in peril given weak development in its main markets. Financial points aren’t the one crimson flag, both — the British Airways proprietor’s transatlantic routes might wrestle to develop following political shifts within the US. Tourism to the States has fallen sharply in 2025, in response to Donald Trump’s controversial administration.
These points add to different, extra long-running threats dealing with airline shares like risky gas prices, airport and air site visitors management disruptions, and intense competitors. IAG shares are low cost, with a ahead P/E ratio of 6.6 instances. However I’m nonetheless not shopping for.
BP
The world faces being drowned in extra crude as manufacturing from each OPEC+ nations and different main producing nations rises. On Thursday (13 November), the Worldwide Power Company (IEA) hiked its market surplus forecasts for subsequent yr, to 4.1m barrels per day, reflecting rising provide and weakening demand.
BP’s share worth has risen 14% in 2025, which (for my part) fails to mirror this rising actuality.
Over the long term, I’m involved concerning the FTSE 100 firm’s pivot this yr from inexperienced power to nearly solely oil and gasoline. This will increase earnings during times of crude worth power. Nevertheless it additionally creates monumental risks as demand for renewable and nuclear power heats up.
Like IAG and Lloyds, I’m completely happy to go away BP shares on the shelf.
