The Royal Gazette/BSX Index finished flat, despite a turnover of almost $5 million worth of shares.

Ascendant Group Limited, the parent company of Belco, repurchased 710,000 of its own shares, at a cost of $7 per share, in accordance with BSX regulations.

That repurchase represented 6.6 per cent of Ascendant’s overall issued and listed securities.

In a statement released through the Bermuda Stock Exchange, Ascendant stated it intends to cancel 595,000 of the listed securities repurchased and retain the remainder as treasury shares to be used for general corporate purposes.

The company’s share price did not move, closing at $6.95.

There was no change to Butterfield Bank, although 232 of its shares changed hands. The closing price was $27.75.

On a shortened trading day for the New York Stock Exchange, Butterfield’s shares fell 15 cents, or 0.51 per cent, to $29.03.

The Royal Gazette/BSX Index closed unchanged at 1,776.32, while the BSX Insurance Index was up 6.41 points, or 0.38 per cent, at 1,712.54.