Ascendant shares continue winning streak

  • Ascendant shares climbed to their highest level since August 2008 in BSX trading

    Ascendant shares climbed to their highest level since August 2008 in BSX trading

Shares of Ascendant Group Ltd continued their winning streak on the Bermuda Stock Exchange yesterday.

The owner of power utility Belco gained 50 cents, or 2.4 per cent, to close on $21 — the highest point since August 2008 for Ascendant shares — as 7,000 shares changed hands.

The company, which has been aggressively buying back its own shares in recent months, announced in January that it was “evaluating strategic options” including a potential sale and since then the stock has surged.

Butterfield Bank was the only other stock to trade on the BSX, remaining on $34.50 as 300 shares changed hands. The bank’s US-listed shares gained 52 cents, or 1.5 per cent, in New York, to close on $35.38.

The Royal Gazette/BSX Index gained 4.82 points, or 0.22 per cent, to close on 2,162.7.

The BSX Insurance Index gained 10.4 points, or 0.68 per cent, to close on 1,548.4.

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Published Feb 13, 2019 at 8:00 am (Updated Feb 13, 2019 at 8:53 am)

Ascendant shares continue winning streak

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