Investors in Trinity Mirror were cheered this morning after Goldman Sachs, the US investment bank, raised its rating on the stock to buy from sell.

The broker said Trinity’s national assets, such as the Daily Mirror, “might prove attractive to potential bidders at the current low valuation,” and raised its target price on the stock to 139p from 85p.

Moreover, it said the valuation gap between Trinity and Johnston Press, which it downgraded to sell from neutral, was “one of the highest in the sector.”

Trinity’s shares were among the second tier’s biggest risers, up 5.25p to 104.75p.

Conversely, Johnston Press lost 3p to 48p after it swung to a first half pre-tax loss and said its performance for the rest of the year would reflect “difficult market conditions.”

Overall the FTSE 100 was 11.2 points lower at 5459.5, as gains for commodity stocks offset losses for consumer focused sectors.

G4S, the international security group, led the index, up 10.5p to 222p, after reporting better than expected first half profits. Petrofac, the oil services group, was also among the top risers, up 26p to 618.5p, on strong results.

Enterprise Inns was the biggest faller, losing 19p to 302.5p, after analysts at Cazenove downgraded the pubs group to underperform from neutral, citing ongoing weakness in the beer market and consequent pressure on licensees.

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