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Heavy trading in Ascendant on BSX

Somers shares fell 4.7 per cent in BSX trading

Ascendant Group shares worth more than half a million dollars traded on the Bermuda Stock Exchange.

The parent company of electricity company Belco closed unchanged on $17 as 30,000 of its shares changed hands.

The only other stock to trade was Somers, the financial-services holding company that owns Bermuda Commercial Bank. Somers fell 75 cents, or 4.7 per cent, to close on $15.25 as 400 shares traded.

In New York, Butterfield Bank’s US-listed shares fell 23 cents, or 0.55 per cent, to close on $41.31.

The Royal Gazette/BSX Index fell 4.99 points, or 0.2 per cent, to close on 2,467.54. BSX trading volume was 30,400 shares and turnover totalled $516,175.

For the week, the index gained 7.16 per cent, driven by an increase of 10.5 per cent in Butterfield Bank shares to $42. The BSX Insurance Index fell 3.46 points, or 0.22 per cent, to close on 1,542.76.