In this paper the stability of plasma in a toroidal system is investigated, for drift type oscillations which have phase velocities in the range vTc » ω/k|| » vTi. Making the assumption that the shear is not too small, our main attention is turned to finding out whether or not curvature of the lines of force causes any new instabilities to appear not already present in the slab-model approximation to the magnetic field. It is well known that, in this approximation, there is just one large-scale instability, namely the temperature drift instability. It is shown here that, when the temperature gradient differs from zero, particle drift due to the magnetic field gradient allows large-scale oscillations to be excited with a localization region having a width which exceeds that characteristic of the electrons:
x > xθ = ρi/θ(me/mi)1/2, ω < k||vTe,
where ρi is the ion Larmor radius and θ is the shear. To this instability we give the name `magnetic drift instability'. The criterion for it to be excited is somewhat easier to satisfy than that for temperature drift instability, although the localization width is smaller. One would therefore expect that its contribution to transport processes would not exceed that of the corresponding effects from the temperature drift instability. It is shown that both ion and electron magnetic drift instabilities exist. When joule heating is present and when the electron temperature considerably exceeds the ion temperature, only the electron instability is excited. The influence of corrugation of the field is also considered. It is shown to be unimportant in the presence of high shear. For low shear and in the presence of a temperature gradient corrugation does not stabilize the oscillations.