Utilities weigh on BSX
The sector dragged the local stock market lower last week as both KeyTech Ltd and Ascendant Group Ltd fell on low trading volume.
KeyTech, owner of the Bermuda Telephone Company, suffered the sharpest fall, declining 50 cents, or eight percent, to close on $5.75 on the trading of just 100 shares on the Bermuda Stock Exchange (BSX).
Ascendant, owner of electricity provider Belco, fell 60 cents, or 4.9 percent, as 800 of its shares changed hands, and finished the week on $11.55.
The most heavily traded stock was Butterfield Bank, which remained unchanged on $1.23 as 142,486 shares were exchanged.
Butterfield’s preference shares, which yield eight percent, were also busily traded last week, as 255 of the shares changed hands, while the price remained unchanged on $1,230.
The Royal Gazette / BSX Index tumbled 11.42 points, or 1.07 percent, to close the week on 1,063.96.
Share volume topped 147,500 for the week, while turnover was just shy of $536,000.
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Published Nov 26, 2012 at 8:00 am (Updated Nov 25, 2012 at 6:53 pm)