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BSX at four-year low

Bermuda stocks ended Friday at their lowest point in four years after another down week.The Royal Gazette / Bermuda Stock Exchange (BSX) Index fell 29.06 points during the last five days of trading — a fall of 0.9 percent — to close the week on 3,203.99.During the 2008, the BSX lost some 30 percent of its value. During January, the index slumped 213 points, or 6.2 percent.

Bermuda stocks ended Friday at their lowest point in four years after another down week.

The Royal Gazette / Bermuda Stock Exchange (BSX) Index fell 29.06 points during the last five days of trading — a fall of 0.9 percent — to close the week on 3,203.99.

During the 2008, the BSX lost some 30 percent of its value. During January, the index slumped 213 points, or 6.2 percent.

The negative week was down to the fall in value of the three biggest BSX-listed domestic companies by market capitalisation.

Butterfield Bank fell another five cents (0.52 percent) to close the week at $9.40, as 57,778 shares traded. Power company Belco Holdings Ltd. dipped 95 cents (5.6 percent) on the trading of 1,100 shares to close the month on $16. And insurer Argus Group Holdings Ltd. saw its share value fall by 25 cents (2.61 percent) to $9.30, as 700 of its shares changed hands.

The only other issue to gain was KeyTech Ltd., owner of the Bermuda Telephone Company, which rose 30 cents (three percent) to $10.30, as 800 shares traded.

Volume of shares traded for the week was 61,413 and turnover was $594,360.

The BSX Insurance Index of leading Bermuda international insurance companies finished the week down by 23 points (2.9 percent) at 762.76.