St Genevieve's rise to the top of the class as shares surge on hope of a euro debt deal
St Genevieve's High School, Belfast has surged to the top of the leader board in the Investec Wealth and Investment/Business Telegraph School Share Race.
The team saw their portfolio rise in value by over 16% as the FTSE 350 index of leading companies increased in value by 7.4% on the back of hopes that European political leaders are finally making progress on solving the longstanding eurozone debt crisis.
Last week's leaders Belfast High School slipped to second despite an impressive 7% increase in the value of their portfolio while Malone College also dropped one position to third with their investments rising by over 5.5%.
It was a good week for Loreto College, Coleraine. They rose from 21st to fourth after posting an 11% rise. Indeed, each team saw their stocks rise in value over the week as the market recovered losses accrued in mid-November.
Schools had the first opportunity to make changes to their portfolios since the competition began, and around half the teams did so, either banking profits already made or cutting losses and reinvesting elsewhere in expectation of higher returns.
The province-wide competition, which began in mid-October, runs until mid-February with the team whose portfolio is worth most at this point winning gift vouchers as first prize.
Brian Craig is the Senior Investment Director at Investec Wealth and Investment