BF&M shares climb to new 52-week high

  • Bank boost: Butterfield shares rose for a third successive trading day on the BSX

    Bank boost: Butterfield shares rose for a third successive trading day on the BSX


Two stocks and one fell in Bermuda Stock Exchange trading.

One Communications Ltd was the most heavily traded stock, gaining five cents, or 1.3 per cent to close on $3.80 as 30,900 shares of the telecommunications group changed hands.

BF&M Ltd also gained ground, climbing to a new 52-week high of $17.90. The insurer gained 20 cents, or 1.1 per cent, on the trading of 1,312 shares.

Ascendant Group Ltd slid 50 cents, or 1.5 per cent, to close on $32 as 1,000 shares traded. The parent company of power utility Belco is awaiting regulatory approval for a $36-per-share takeover by Algonquin Power and Utility Corp a deal already approved by shareholders.

The Royal Gazette/BSX Index fell 2.6 points, or 0.13 per cent, to close on 2,073.13. For the week, the index gained 3.4 per cent, driven mainly by a 7.1 per cent rise in Butterfield Bank stock.

The US-listed shares of Butterfield added 47 cents, or 1.51 per cent, to close on $31.51 on the New York Stock Exchange. They last traded at $30 on the BSX.

BSX trading volume on Friday totalled 33,212 shares, while turnover was $171,859.80.

The BSX Insurance Index fell 4.47 points, or 0.26 per cent, to close on 1,735.91.

Financial-services investment holding company Somers Ltd announced it repurchased 2,500 of its own shares in July at an average of $15 a share. The shares will be cancelled with immediate effect.

Somers said the number of common shares in issue as at July 31, 2019 was 20,683,557, net of 2,500 treasury shares.

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Published Sep 13, 2019 at 5:47 pm (Updated Sep 13, 2019 at 5:47 pm)

BF&M shares climb to new 52-week high

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