Avanti, which supplies broadband services to more remote areas of Scotland, took on the starring role with the shares up a further 17% as investors continued the countdown to the launch of the group's second satellite on August 2.

But we were more relieved with an 8% recovery in the price of FirstGroup on gossip that the company is now a front-runner in the chase to win the west-coast London-to-Glasgow rail franchise.

We should have sold the shares last week when the price dipped below the published stop-loss level, but were too slow off the mark and decided to hold on for a few more days in the hope of just such a rally.

In addition to the price recovery, we are now also in line to receive a 16p-a-share dividend.

FirstGroup's recovery and further gains by Carr's Milling Industries and Irn-Bru manufacturer AG Barr helped the 2010 portfolio show a 2.8% rise when we conducted our review of progress on Wednesday morning, while Avanti's share price spurt saw the 2011 selections add a full 4%. The gains more than balanced falls of 2.7% and 2.3% respectively in the 2012 and 2009 portfolios.

Virtually all the shares in the latest portfolio suffered some sort of mark down and we sold our notional shareholding in international employment agency Hays for an £80 loss following a disappointing trading update.

Cash and carry group Booker was the biggest loser in the 2012 list after stockbrokers Shore Capital advised clients to take profits, although the overall damage was limited by a further rise in drinks giant Diageo ahead of next month's results.