Bermuda Stock Exchange

Butterfield weighs on BSX

  • The Royal Gazette/BSX Index fell 3.6 per cent last week

The Royal Gazette/BSX Index fell 3.6 per cent last week, largely because of a tumble in the price of Butterfield Bank shares.

The Bermuda Stock Exchange was closed yesterday for the Remembrance Day public holiday.

Butterfield slipped $1.75, or 4.7 per cent, over the five days of trading to close on $35.25, as 8,823 shares changed hands. The New Stock Exchange was open yesterday and Butterfield’s US-listed shares gained 62 cents, or 1.7 per cent, to close on $36.82.

The index fell 75.72 points to close the week on 2,107.64.

Argus Group fell 3.8 per cent on the trading of 40,000 shares last week, to close on $3.85, while rival insurer BF&M Ltd gained 1.4 per cent to close on $18.50, as 4,700 of its shares traded.

Ascendant Group, owner of Belco, climbed 2.7 per cent to reach a 52-week high of $9.50, as 7,616 shares were exchanged.

Somers Group, owner of Bermuda Commercial Bank, also hit a 52-week high of $14.50, as it gained 1.8 per cent on the trading of 700 shares.

One Communications Ltd, with 37,459 shares changing hands, was the second-most actively traded stock on the BSX last week, but it remained unchanged on $2.99.

BSX trading volume totalled 99,298 shares and turnover amounted to $748,776.61.