Butterfield shares slump 3.5% in New York
No shares traded on the Bermuda Stock Exchange, leaving The Royal Gazette/BSX Index unchanged on 1,903.91.
Butterfield Bank's US-listed shares dipped 94 cents, or 3.48 per cent, to close the day on $26.11 on the New York Stock Exchange amid a broad market slump on Wall Street. The bank last traded on the BSX at $26.90.
Butterfield also announced yesterday that it had repurchased for treasury 403,000 common shares during the month of February at an average price of $32.27 per share.
Telecommunications group One Communications Ltd also announced that it had bought back 101,040 of its own shares for immediate cancellation during February at an average price of $3.78.
The BSX Insurance Index surged 3.3 per cent, or 55.05 points, to close on 1,720.71.
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