A British Virgin Islands-based investment holding company has accumulated an eight-percent stake in LOM (Holings) Ltd.

After 200,000 LOM shares traded on the Bermuda Stock Exchange (BSX) yesterday, the investment management firm said that Chiropo Company SA now had total holdings of 506,476 LOM shares.

LOM's share price remained unchanged on $3.50.

Insurer and pension provider BF&M Ltd. was the biggest climber as local stocks rose, gaining 45 cents, or three percent, to close on $15.45, on the trading of 2,500 shares.

Butterfield Bank common shares also advanced 10 cents, or two percent, to close on $5.10, as 400 shares changed hands.

Meanwhile, Butterfield's preference shares remained unchanged on $1,200, as 18 shares traded.

Argus Group Holdings Ltd., the day after declaring an annual net loss of $115.7 million due mainly to falling asset values, did not trade.

The Royal Gazette / Bermuda Stock Exchange (BSX) Index rose 24 points, or 1.1 percent, to close on 2,297.53.

Volume was 202,900 shares and Bermuda dollar turnover was $740,225.

A well known name on the BSX changed yesterday, as Belco Holdings Ltd. officially became Ascendant Group Ltd.