Scotland's major banks were to the fore when virtually all of our share tips pushed higher on Friday morning in a knee-jerk reaction to the referendum result.
Royal Bank of Scotland, TSB and Lloyds Banking all reversed earlier weakness with gains of up to 5% in relief that their businesses will not now face regulatory uncertainties and moves down south. Other Scots to move ahead on the No vote included Edinburgh surveillance group IndigoVision, headed by union supporter Marcus Kneen, media group STV and alternative energy supplier Infinis which had been concerned over the potential loss of UK Government subsidies. Much of the optimism stemmed from a recovery in the pound against other currencies along with hopes that overseas investors may return to the UK stock market after selling in the run up to the referendum.
We are wary that some of this confidence could evaporate in the face of continuing problems facing the global economy but have decided to back Scottish resilience with a further nominal purchase of shares in IndigoVision and a fresh recommendation for Glasgow cloud computing specialist Iomart.
Both have recently announced strong trading news which has not been fully reflected in their share prices with Iomart, in particular, suffering a price hangover after failed takeover offer.
As usual, we have set a stop/loss target, 10% below the price at which we advise followers to consider selling on any significant reversal.While our Scottish recommendations stood out, other tips moved higher with engineer Ricardo staging a good recovery after a trading update and above-average gains achieved by safety equipment group Halma and distribution conglomerate DCC.
Anglo-American jeweller Signet was our only big faller as the shares ran into a bout of profit taking.
Friday's performance helped our four portfolios to end the week with gains in the 1.5% to 2% bracket.
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