Motor Transport fully accepts that this isn’t an exact science. Investors are buying shares in Fowler-Welch parent company DartGroup because of its Jet2.com holidays business and in City Link parent Rentokil Initial because of its multi-national pest control arm as much as the transport interests. The basket also includes Hargreaves Services, where transport was £77m of a £739m turnover business in its most recent financial year.

But at NWF Group (parent to Boughey Distribution among others); Stobart Group; UK Mail and Wincanton the businesses are predominantly road transport.

If you had bought a single share in each company on Tuesday 5 February it would have cost you £15.82.9 pence. Seven days earlier (29 January) it would have cost £15.88.7 p. It fell 0.36% in a week.

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Conversely, while the total share-price bucket has gone down, the total market capitalisation value has risen.

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