Log In

Reset Password

BSX dips 2% as six stocks fall

Six domestic-board companies saw their stock prices fall in Bermuda Stock Exchange trading last week, two of them by double-digit percentages.

The Royal Gazette/BSX Index slid 25.06 points, or 2.12 percent, to end the week on 1,178.31.

Worst-hit was Polaris Holding Co Ltd, owner of Stevedoring Services, which plunged 28.2 percent on the trading of 5,000 shares to close the week at $3.05.

Insurer Argus Group Holdings Ltd also took a tumble, diving 14.7 percent to close on $4 as 10,800 shares traded.

The utilities also had a bad week with both telecommunications company KeyTech Ltd and energy company Ascendant Group Ltd falling.

KeyTech fell 7.8 percent to close on $5.35 on the trading of 6,000 shares, while Ascendant slid 2.3 percent as 3,526 shares changed hands.

Somers Ltd, parent company of Bermuda Commercial Bank, fell 3.2 percent, while insurer BF&M fell 1.2 percent.

The only shares to climb were the preference shares issued by Butterfield Bank, which gained 1.5 percent to close on $1,200 as 30 shares traded.

Total share volume during the week topped 86,000, while turnover was a little under $650,000.