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KeyTech surges

Telecommunications group KeyTech Ltd moved sharply higher on the Bermuda Stock Exchange last week, boosting the local stock market.

KeyTech, owner of the Bermuda Telephone Company and Logic, surged $1.45, or 26.4 percent, to $6.95 on the trading of 1,100 shares.

Fellow utility company Ascendant Group Ltd, owner of Belco, fell 42 cents, or 3.1 percent, to close the week on $13.25, as 900 shares were exchanged.

It was also a negative trading week for insurer Argus Group Holdings Ltd, whose share price slipped eight cents, or almost two percent, to $4.02, as 6,500 of the company’s shares changed hands.

Butterfield Bank was the most heavily traded stock, but it remained unchanged on $1.10, as 24,000 shares traded. The bank’s preference shares fell $5, or 40 cents, to close the week on $1,230.

The Royal Gazette / BSX Index rose 12.87 points, or 1.23 percent, during the five days of trading to finish up on Friday at 1,038.47.

Share volume for the week topped 35,000 and turnover was just shy of $119,000.

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Published March 19, 2012 at 2:00 am (Updated March 19, 2012 at 9:28 am)

KeyTech surges

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