BSX tumbles 6.2%
Double-digit falls in the share prices of Butterfield Bank and Bermuda Aviation Services Ltd. (BAS) saw the Bermuda Stock Exchange suffer a six percent fall this week.
The bank plunged 75 cents, or 15.6 percent, to $4.05 - its lowest price since early May - on the trading of more than 23,000 shares. Butterfield's preference shares also slipped slightly, falling $10, or 0.8 percent, to $1,212.
BAS slumped 85 cents, or 14.4 percent, to $5.05 - its lowest point in almost seven months - as 7,900 shares traded.
Insurer BF&M Ltd. was the biggest climber, gaining almost 4.6 percent, as 6,200 of its shares changed hands, to close on $16.
Rival insurer Argus Group Holdings Ltd. lost some ground, falling five cents, or 0.5 percent, to $9.10, as 5,500 shares traded, and Bermuda Commercial Bank Ltd. also slipped by 0.9 percent. BCB fell by five cents to $5.45, as 2,000 shares changed hands.
Utilities companies Ascendant Group Ltd. (6,700 shares) and KeyTech Ltd. (11,200 shares) were also actively traded, but neither share changed value.
The Royal Gazette / Bermuda Stock Exchange Index slipped below 2,100 points for the first time since May at one point during the week, but ended Friday at 2,116.85, down 131 points, of 6.2 percent, for the week.