The Bermuda stock market lost nearly five percent in value over the past week, driven by falls in the share prices of Butterfield Bank and Ascendant Group Ltd.

Butterfield dipped 6.7 percent, or 10 cents, to $1.40 on the trading of 70,748 shares.

The bank's eight percent preference shares, however, held their value in brisk trade, with the price remaining at $1,200 as 102 shares changed hands.

Ascendant, parent company of electricity provider Belco, fell 4.7 percent during the five days of trading. Ascendant shed 68 cents to close the week on $13.82, as 5,000 shares were exchanged.

Telecoms group KeyTech Ltd. also fell slightly, dipping eight cents, or 1.1 percent, to $7.02, as 450 shares were traded.

Bermuda Aviation Services Ltd. suffered the biggest fall of the week on light volume. The company fell 50 cents, or 10 percent, to close on $4.50, as 400 shares changed hands.

Insurer BF&M Ltd also took a tumble, falling 45 cents, or 3.3 percent, to $13.05, as 1,200 shares traded.

The Royal Gazette / Bermuda Stock Exchange Index fell 60.13 points, or 4.9 percent, to close on Friday on 1,216.70.

Volume was almost 78,000 shares and turnover just shy of $318,000.