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Butterfield’s 3% climb drives BSX higher

A 3.1 per cent rise in Butterfield bank's share price drove The Royal Gazette/BSX Index higher last week.

The bank climbed 75 cents to close at $24.75 during the five days of trading as 7,939 shares changed hands. Butterfield's shares on the New York Stock Exchange closed the week at $25.59.

The index gained 29.92 points, or 1.87 per cent, to close the week on 1,594.64. Bermuda Stock Exchange trading volume was 75,470 shares and turnover topped $681,000.

It was a bad week for telecommunications group KeyTech Ltd, which plunged 35 cents, or 11.7 per cent, to $2.65 on the trading of 1,100 shares.

Insurer Argus Group climbed 5 cents, or 1.3 per cent, to $4.05, as 5,484 shares were exchanged.

There was also substantial trading in shares of Ascendant Group Ltd, owner of power utility Belco, with 53,480 shares changing hands, but the price remained unchanged on a 52-week high of $6.20.

Insurer BF&M Ltd and financial-service holding company Somers Ltd also traded but remained unchanged.

Butterfield Bank: shares rose to $24.75 last week

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Published October 10, 2016 at 9:00 am (Updated October 09, 2016 at 8:48 pm)

Butterfield’s 3% climb drives BSX higher

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