BSX surges 6.8%
The Royal Gazette / Bermuda Stock Exchange (BSX) Index surged nearly seven percent last week, fuelled by a spike in Butterfield Bank shares.
During the five days of trading, the bank recovered strongly from $1.05, its 52-week low, to end the week on $1.20, representing a rise of 14.3 percent. Trading volume in the bank’s common shares was 56,474.
Sixty-five of Butterfield’s preference shares also traded, with the price unchanged on $1,230.
Insurer BF&M Ltd gained ten cents, or 0.7 percent, to $15.10, as 11,600 of its shares changed hands.
Telecommunications group KeyTech Ltd was another to make gains, climbing four cents, or 0.8 percent, to close the week on $5.30, on the trading of 2,700 shares.
The one share to decline last week was that of Ascendant Group Ltd, owner of Belco, which slipped ten cents, or 0.8 percent, to $13.10, as 300 shares changed hands.
The index rose 72.44 points, or 6.79 percent, to end Friday on 1,065.30. Volume topped 71,400 shares, while turnover was a little over $341,700.