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Discovering which shares others are shopping for and promoting can supply useful insights for traders. They’ll illustrate traits and generate concepts, serving to you see alternatives or dangers early on. With this in thoughts, I’ve lately been trying out 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 troublesome, 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 could 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 vital space of profitability for Lloyds. However on the entire, issues are wanting lower than rosy for the financial institution, in my opinion.
Lloyds’ share value is up 72% in 2025, leaving it buying and selling on a ahead price-to-earnings (P/E) ratio of 13.1 occasions. This makes it the UK’s costliest banking share, which for my part doesn’t replicate the size of the long-term challenges it faces.
IAG
The IAG share value has swept 32% greater up to now 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 pink flag, both — the British Airways proprietor’s transatlantic routes could 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 occasions. However I’m nonetheless not shopping for.
BP
In higher information, IAG can in all probability count on gas costs to stay extra beneficial within the close to time period. Nonetheless, this isn’t a very good state of affairs for oil big BP.
The world faces being drowned in extra crude as manufacturing from each OPEC+ international locations and different main producing nations rises. On Thursday (13 November), the Worldwide Vitality 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 value has risen 14% in 2025, which (for my part) fails to replicate this rising actuality.
Over the long term, I’m involved concerning the FTSE 100 firm’s pivot this yr from inexperienced vitality to nearly solely oil and fuel. This may increasingly increase earnings in periods of crude value power. But it surely additionally creates huge risks as demand for renewable and nuclear vitality heats up.
Like IAG and Lloyds, I’m completely happy to go away BP shares on the shelf.
