Three climb, three fall in busy BSX trading

Shares of three companies gained, while three declined on a busy day of trading on the Bermuda Stock Exchange.

Ascendant Group Ltd, parent company of Belco, fell by $1, or 3.3 per cent, to close on $29 as 800 shares changed hands on the day it was announced that electricity tariffs would fall in January.

The company is still waiting on regulatory approval for its proposed $36-per-share takeover by Algonquin Power and Utilities Corp, which values Ascendant at about $365 million.

One Communications Ltd slumped $1.08, or 28.4 per cent, to close on a 52-week low of $2.72 as 1,000 shares were traded.

LOM Financial Ltd also slipped two cents, or 0.7 per cent, to $2.75 as 1,000 shares changed hands.

The biggest gainer was Argus Group Holdings Ltd. The insurer added 12 cents, or 4.3 per cent, to close on $2.90 as 9,000 shares traded.

Rival insurer BF&M Ltd also gained ground, climbing 50 cents, or 2.5 per cent, to close on $20.50, on the trading of 9,109 shares.

Butterfield Bank also climbed, adding 29 cents, or 0.8 per cent, to close on $37.29 as 193 shares were traded.

The bank’s US-listed shares moved in the opposite direction, falling five cents, or 0.13 per cent, to close on $37.69 as 81,216 of its shares changed hands on the New York Stock Exchange.

The Royal Gazette/BSX Index fell 5.33 points, or 0.22 per cent, to close on 2,380.37.

The BSX Insurance Index fell 14.58 points, or 0.84 per cent, to 1,729.65.

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Published Dec 19, 2019 at 8:00 am (Updated Dec 19, 2019 at 8:09 am)

Three climb, three fall in busy BSX trading

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