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BSX rises 3.14%

KeyTech was the biggest mover on The Royal Gazette/BSX Index last week. The telecoms firm revealed last Thursday that its subsidiary Logic Communications Ltd was to merge with Bermuda CableVision after KeyTech secured ownership of 100 per cent of Cablevision’s shares. Shares in the company improved 35 cents (14 per cent) to $2.85 after 10,000 were traded,

Bermuda Aviation Services saw its shares improve by 30 cents (10 per cent), to close at $3.30 after 2,000 were exchanged, and Butterfield Bank shares rose 7 cents (4.2 per cent) to $1.75 after 24,744 were traded.

Other shares to improve were BF&M Ltd, up 5 cents (0.3 per cent) at $17.20, and Ascendant Group, which was up 15 cents (3 per cent) at $5.20.

Shares of Bermuda Press Holdings Lts, the parent company of this newspaper, were down 15 cents (2.1 per cent) at $6.85 after 8,600 were traded. Also down were Government of Bermuda’s BMD$50m 4.75% senior notes, which fell $3 (2.8 per cent) to close at $103.00 after 20 were exchanged.

The Royal Gazette/BSX Index ended the week 39.20 points higher (3.14 per cent) at 1,246.94. The BSX Insurance Index was also up, closing 4.18 points higher (0.26 per cent) at 1,620.80.