One Communications Ltd spent $1.35 million in trades to repurchase its own shares in Bermuda Stock Exchange trading.

The company said after the close of trading yesterday that it had bought back 451,805 of its shares for immediate cancellation at an average price of $3.

The telecommunications firm closed down ten cents, or 3.2 per cent, at $3.

The only other stock to trade was Ascendant Group Ltd, parent company of Belco, which closed unchanged on $17 as 3,300 shares changed hands.

The Royal Gazette/BSX Index fell 1.37 points to close on 2,364.

Butterfield Bank’s US-listed shares gained one cent to close on $39.69 on the New York Stock Exchange.

The BSX Insurance Index fell 0.48 of a point to close on 1,566.82.