Argus shares slump but Ascendant continues climb
Argus Group Holdings, West Hamilton Holdings and KeyTech Ltd all saw their stock prices suffer substantial falls after a Bermuda Stock Exchange trading week with a multimillion-dollar turnover.
Argus suffered the largest slump, sinking 59 cents, or 12.8 per cent, to close on $4.01, during the five days of trading as 4,195 of the insurer’s shares changed hands.
West Hamilton, the property developer, dipped 50 cents, or 7.1 per cent, to $6.50 as 3,000 shares were traded.
Telecommunications group KeyTech sank 15 cents, or 5.7 per cent, to $2.50, on the trading of 18,300 shares.
Butterfield Bank generated the bulk of the BSX’s $4.24 million trading turnover, and climbed five cents, or 0.2 per cent, to close on $25.05 as 164,415 of its shares were exchanged.
The bank’s preference shares were also actively traded, with 400 changing hands as the price rose $48, or 4.6 per cent to $1,100.
Ascendant Group, owner of power utility Belco, continued on its upward trend, gaining 30 cents, or 4.8 per cent, to close on a 52-week high of $6.50 as 400 shares changed hands.
The Royal Gazette/BSX Index fell 9.38 points, or 0.58 per cent, to 1,607.49, on a trading volume of 194,000 shares for the week.