Our share tips took a nasty knock last week as stock markets suffered from some of the worst trading conditions of the year following another series of dismal trading bulletins from the Continent.

Some of the hardest hit were those Scottish shares which had raced ahead only a week earlier after the Scottish referendum result. Lloyds and TSB were among those to go into sharp reverse as analysts pointed to the continuing economic problems facing financial markets, while Royal Bank of Scotland took an additional hit after cutting the price it expects to get from the sale of its US retail interests.

Others reflected concerns over their exposure to European markets - recycled packaging group DS Smith saw its shares drop 5% over the week as followers fretted over the outlook for its niche business in the whisky trade after news of a slump in exports from the Scotch Whisky Association.

Other big overseas earners were hit by a recovery in the value of the pound after the referendum - Compass, Signet, WPP and Halma were among those to receive a mark-down.

Away from the wider economic concerns, over-50s insurance and holidays group Saga retreated on nervous selling ahead of results due on Tuesday.

There were a few brighter spots, however, with Edinburgh security systems group IndigoVision managing a further small gain after recent trading results and alternative energy supplier Infinis edging ahead after the ending of some uncertainties over subsidies.

Even so, all four of our portfolios recorded heavy losses, with the 2011 selections giving up a full 3%. The 2013 list lost 2.3% of its total valuation over the week, but this year's selections managed to limit its fall to 1.7%, and the 2012 portfolio shed 1.4%.