Shares of Ascendant Group Ltd fell 4.5 per cent in Bermuda Stock Exchange trading.

The owner of power utility Belco fell $1.45 to close on $31 as 293 shares changed hands.

Ascendant is awaiting approval from the Regulatory Authority for its $36-a-share proposed sale to Canadian company Algonquin Power and Utility Corp, a deal which shareholders approved last year.

Butterfield Bank’s US-listed shares fell 56 cents, or 1.54 per cent, to close on $35.92 on the New York Stock Exchange. The bank last traded at $35.75 on the BSX.

The Royal Gazette/BSX Index fell 13.98 points, or 0.59 per cent, to close on 2,336.94. For the week, the index fell 1.34 per cent.

The BSX Insurance Index gained 13.04 points, or 0.75 per cent, to close on 1,750.15.