Butterfield falls 1% in New York

The Royal Gazette/BSX Index closed unchanged on 2,404.48 as no shares traded on the Bermuda Stock Exchange.

It was a quiet first trading week of 2020 for the BSX, with the index gaining 0.82 per cent over the holiday-shortened week.

The US-listed shares of Butterfield Bank fell 38 cents, or 1.02 per cent, to close on $37.04 on the New York Stock Exchange. Butterfield last traded on the BSX at $37.29.

The BSX Insurance Index gained 2.36 points, or 0.14 per cent, to close on 1,746.08.

• In a filing with the Bermuda Stock Exchange, LOM Financial Ltd announced that the company purchased 59,400 shares at an average price of $2.7562 for cancellation during December 2019, representing just over 1 per cent of common shares outstanding, which number 5,491,628.

LOM said in the filing that the number of shares ultimately repurchased, and the timing of the purchases, will depend upon market conditions, share price, and other factors.

“The current share repurchase programme confirms our commitment to continually enhance value for our shareholders,” said Malcolm Moseley, executive vice-president and chief financial officer of LOM.

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Published Jan 3, 2020 at 5:56 pm (Updated Jan 3, 2020 at 5:57 pm)

Butterfield falls 1% in New York

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