BSX Index falls 1%
The Royal Gazette / Bermuda Stock Exchange Index fell just over one percent last week as major component Butterfield Bank and Ascendant Group both fell.
Butterfield Bank slipped two cents, or 1.6 percent, to close on $1.20, as more than 261,000 shares traded.
Ascendant, the owner of power company Belco, fell 10 cents, or 2.9 percent, during the five days of trading to close the week on $13.25, as 9,200 shares changed hands.
Bermuda Press (Holdings) Ltd, owner of
The Royal Gazette, as well as a range of commercial printing, retail and real estate businesses, fell one cent, or 0.1 percent to $11, as 1,400 shares changed hands.
The only stock to rise last week was Bermuda Commercial Bank Ltd, which climbed 25 cents, or 2.3 percent, on the trading of 100 shares. Last week the bank announced underlying profit for the fiscal year ended September 30, 2011, had more than doubled to $2.6 million. BCB also announced a half-yearly dividend of 10 cents per share.
The Index fell 11.47 points, or 1.06 percent, to close the week on 1,081.97. Share volume was just shy of 282,000, while turnover topped $515,000.