Tide of red ink returns once again to transport stocks

First Group slumps just under 30% as a result of a management statement that was gloomy reading

Perhaps we should have toned down the optimism in the previous edition of Stockwatch as our portfolio of transport stocks once again slide dramatically into the red over the last fortnight.

First Group had a particularly bumpy time over the last two weeks with its shares slumping just shy of 30% to close at 315.25p. The most dramatic loss was on January 14 when the stock closed at 358.75p, down 62.5p. This followed a management statement that revealed that revenue growth at Greyhound, the...

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