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Ascendant shares hit three-year high

On the up: Ascendant, owner of Belco, surged to its highest share price since March 2014

Shares of Ascendant Group today surged to a three-year high in Bermuda Stock Exchange trading.

The firm, which owns power utility Belco, jumped 51 cents to $8.50 on high volume.

The 6.4 per cent increase came as 192,700 shares changed hands.

Insurance company BF&M was unchanged at $20.50 after 145 shares sold.

Butterfield Bank, at $31, did not trade in Bermuda. But on the New York Stock Exchange, Butterfield rose 36 cents, or 1.13 per cent, to $32.12.

The Royal Gazette/BSX Index closed up 4.9 points, or 0.25 per cent, at 1,934.94.

The BSX Insurance Index ended the day up 16.12 points, or 0.88 per cent, at 1,857.08.