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Ascendant rises 4.5%

Ascendant Group Ltd shares rose 4.5 percent last week to lead The Royal Gazette / Bermuda Stock Exchange (BSX) Index higher.The energy group, which owns electricity company Belco and Bermuda Gas, gained 64 cents to close the five days of trading on $14.89, as 3,000 shares changed hands.Devonshire Industries Ltd also recorded a significant jump on low volume, as its shares leaped 50 cents or 8.3 percent, to close the week on $6.50, as 1,000 shares traded.Financial services companies also had a positive week with both Butterfield Bank and insurer BF&M Ltd gaining.Butterfield climbed one cent, or 0.7 percent, to close the week on $1.40, as 84,500 shares were exchanged. Butterfield’s preference shares also gained, advancing $5, or 0.4 percent to $1,230, as 50 shares traded. BF&M rose 25 cents, of 1.7 percent, to close the week at $14.85, after 3,500 shares changed hands.Telecommunications group KeyTech Ltd bucked the upward trend by falling five cents, or 0.8 percent, to $6.05 as 3,000 shares traded.The index gained 11.71 points, or 0.97 percent, to finish the week on 1,204.2. Volume topped 125,000 shares, while combined Bermuda and US dollar turnover was more than $600,000.The BSX was closed yesterday for the National Heroes Day holiday.