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Ascendant dips 8.7% on light volume

Shares of Ascendant Group Ltd fell 8.7 per cent on light volume in Bermuda Stock Exchange trading.The parent company of power utility Belco fell $2.95 to close on $31 as 126 shares changed hands.Ascendant was the lone stock to trade on the BSX, as The Royal Gazette/BSX Index fell 28.45 points, or 1.75 per cent, to close on 1,595.35. For the week, the index fell 3.51 per cent, driven mainly by a 7 per cent fall in Butterfield Bank shares.US-listed shares of Butterfield Bank surged $1.72, or 8.35 per cent, to close on $22.32 on the New York Stock Exchange as 282,391 shares were traded. Butterfield last traded on the BSX at $20. The BSX Insurance Index gained 43.88 points, or 3.98 per cent, to close on 1,145.63.