Kilkeel beat slump to consolidate their lead
School Share Race
Week four of the 10th annual Investec Wealth & Investment/ Business Telegraph School Share Race came to a close with the London Stock Market in a bearish mood as reflected in the 2.76% fall in the FTSE 350 index over the course of the five day's trading.
Share prices in London saw extensive markdowns as worries over global debt refused to go away.
The index of leading companies has now fallen by 4.8% since the competition began last month but it is pleasing to note that over half of the schools have managed to outperform this benchmark. However, only the league leaders can now see a positive return on their initial investment.
Top of the leader board this week is Kilkeel High School, up from 10th position last week. They lead the table by just £103 from second placed Lurgan College, last week's leaders. It proved to be a most difficult week of trading as only Kilkeel High saw their portfolio rise in value.
Elsewhere in the top five it is largely "as you were" with St Mary's, Downpatrick and Wallace High staying static in third and fifth places respectively while Bangor Academy slipped two places to fourth.
Biggest risers of the week were Kilkeel's other representatives St Louis Grammar who leapt 12 places to 11th by virtue of the fact that their portfolio decreased in value slightly less than all the others!
The end of November gives the teams the opportunity to make changes to their portfolio for the first time in the competition.
It will be interesting to see if the teams decide to cut losses already made and perhaps reinvest into other sectors of the market and if teams with cash balances decide to invest their liquid funds in an effort to boost the performance of their portfolios.
The competition runs until mid-February with the top three schools collecting gift vouchers as a prize.