Ascendant shares surge 20%, BF&M up 14%
Shares of Ascendant Group Ltd surged 20 per cent amid heavy trading on the Bermuda Stock Exchange.
The company, which owns power utility Belco and which is considering bids from prospective buyers, rocketed $3.70 to close at its 52-week high of $22 as 37,300 shares changed hands.
Shares of BF&M Ltd also recorded a double-digit percentage rise, gaining $2.10, or 14.1 per cent, to close the week on $17, as 6,200 shares traded.
Butterfield Bank took a tumble, sliding $1.90, or 5.4 per cent, as 300 shares were traded.
On the New York Stock Exchange, Butterfield's US-listed shares fared almost as badly, dipping $1.41, or 4.1 per cent, to close on $33.02.
The Royal Gazette/BSX Index fell 33.69 points, or 1.57 per cent, to close the week on 2,113.28. For the week the index was down 4.58 per cent, driven by an 8.1 per cent fall in Butterfield's share price.
BSX trading volume totalled 43,800 shares, while turnover was $872,005.
The BSX Insurance Index gained 5.16 points, or 0.33 per cent, to close on 1,591.44.
Need to
Know
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
