Ascendant shares trade on BSX – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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Ascendant shares trade on BSX

Ascendant Group Ltd was the only stock to trade on the Bermuda Stock Exchange.

The parent company of power utility Belco closed unchanged on $20 as 8,000 of its shares changed hands.

The company has been reviewing strategic options including a potential sale. The Royal Gazette understands that Monday is the deadline for first-round bids from prospective buyers.

The Royal Gazette/BSX Index closed unchanged on 2,205.48. For the week, the index gained 40.48 points, or 1.83 per cent, driven by a 2.6 per cent gain for Butterfield Bank over the five days of trading.

On Friday, Butterfield's US-listed shares slid $2.64, or 7.34 per cent, to close on $33.32 on the New York Exchange, amid broad market losses for the banking sector as bond rates dipped.

The BSX Insurance Index gained 0.77 of a point to close on 1,461.64.

The Royal Gazette/BSX Index gained 1.83 per cent for the week

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Published March 22, 2019 at 7:35 pm (Updated March 22, 2019 at 7:35 pm)

Ascendant shares trade on BSX

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