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Somers gains in short week

Somers Ltd was the sole gainer during the three-day Bermuda Stock Exchange trading week.

Shortened for the Christmas Day and Boxing Day holidays, last week also saw topsy-turvy trading in Ascendant Group Ltd and a fall of nearly seven per cent for Argus Group Holdings Ltd.

Shares of Somers, a financial services holding company whose biggest interest is the Bermuda Commercial Bank, gained 50 cents, or 3.6 per cent, as 6,700 shares changed hands.

Insurer Argus fell 25 cents, or 6.7 per cent, to close on a 52-week low of $3.50 as 1,300 shares were exchanged.

Ascendant, which owns electricity company Belco, ended the week unchanged on $5.40, but only after plunged to a new year-long low point of $5 early in the week, only to gain back the 40-cent loss on Christmas Eve.

The Royal Gazette/BSX Index fell 1.5 points, or 0.11 per cent, to close on 1,354.12.

Volume for the week was 199,075 shares, while turnover was just short of $500,000.