BSX index gains 7% for week – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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BSX index gains 7% for week

The Royal Gazette/BSX Index soared more than 7 per cent last week led by a Butterfield Bank rebound.

The bank's shares, which plunged after third-quarter earnings were announced last month, regained some of their lost ground last week, gaining $4, or 10.5 per cent, to close on Friday at $42 as 14,278 shares traded through the week.

The BSX was closed yesterday for the Remembrance Day holiday. But Butterfield's US-listed shares had a bad day in New York trading — along with the broader market — falling 84 cents, or 2 per cent.

The only other stock to advance last week was BF&M Ltd. The insurer gained 25 cents, or 1.5 per cent, to close the week on $16.75 on the trading of 4,700 shares.

Somers Ltd shares fell 75 cents, or 4.7 per cent, to close on $15.25 on low volume, with 400 shares trading.

Ascendant Group, parent company of electricity provider Belco, was the most actively traded stock, with 49,794 shares changing hands as the shares remained unchanged on $17.

The Royal Gazette/BSX Index climbed 176.83 points, or 7.16 per cent, over the five days of trading to close on 2,467.54. Trading volume was 71,172 shares and turnover totalled just over $1.52 million.

Butterfield shares gained more than 10 per cent in BSX trading last week

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Published November 13, 2018 at 8:00 am (Updated November 12, 2018 at 8:40 pm)

BSX index gains 7% for week

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