ACE sees share price dip

ACE Ltd. shares fell 15 cents to $42.05 on the New York Stock Exchange after an analyst downgraded the stock from "buy" to neutral.

The drop came after the stock fell 25 cents to $42.20 on Monday. ACE was downgraded to "neutral" from "outperform" by CS First Boston due to concerns over valuation, given that the insurer's stock has approached the 12-month price target of $45.50, CBS MarketWatch reported.

The stock has gained 24 percent since October 20.

IPH considers repurchase

Island Press (Holdings) Ltd. is considering the repurchase and cancellation of some of the company's eight percent Cumulative Redeemable Preference Shares, the company said this week.

Island Press, the publisher of the Bermuda Sun newspaper, made the announcement to the Bermuda Stock Exchange. It did not state how many of the share it planned to repurchase.

The preference shares last traded on the BSX at $3.75 on October 18.