A share crash at Aberdeen's FirstGroup took the shine off another generally solid performance by the majority of our tips last week.
A share crash at Aberdeen's FirstGroup took the shine off another generally solid performance by the majority of our tips last week.
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News that the government has cancelled the recent West Coast franchise award sent the group's price tumbling more than 10% on Wednesday morning as we were conducting the usual review of progress.
We immediately ejected our notional holding from the 2010 portfolio although the speed of the fall meant we were unable to match our published stop-loss target of 230p, which would have landed a profit on the initial investment rather than a small loss. Fortunately, other shares fared better and the total value of the four portfolios moved higher despite the FirstGroup performance with the 2009 selections hitting an all-time peak valuation of £11,592, a 93.2% increase on its initial £6000 investments.
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