Butterfield Bank and Ascendant Group both gained ground in Bermuda Stock Exchange trading.

Butterfield shares climbed 85 cents, or 2.2 per cent, to close on $40.35 as 1,950 shares changed hands. The gains added to Wednesday’s rally when the bank surged 12.9 per cent in response to strong quarterly results released on Tuesday evening.

The bank’s US-listed shares fell ten cents, or 0.24 per cent, to close on $41 on the New York Stock Exchange.

Ascendant, owner of power utility Belco, gained 50 cents, or 2.4 per cent, as 15,800 shares changed hands.

The Royal Gazette/BSX Index climbed 43.05 points, or 1.81 per cent, to close on 2,425.4. Trading volume totalled 17,750 shares and turnover was $410,232.50.

The BSX Insurance Index fell 0.57 of a point to end the day on 1,525.32