The Bermuda Stock Exchange Index lost more than three percent of its value last week as investors forced down the price of Bank of Butterfield shares,
Created: Oct 17, 1994 11:00 AM
Butterfield, which opened last week at $14, closed at $12.625 on Friday on volume of 7,332 shares for the week.
The fall helped drive the Exchange down 32.91 points to close at 1073.10 on volume of 51,739 shares and 3,720 bonds worth a total of $879,343.
During the week, Bank of Bermuda warrants traded for the first time, gaining 50 cents to close at $2.75 after opening at $2.25 on strong volume of 20,754.
Newspaper company Bermuda Sun Ltd., a long time member of the Exchange, was delisted following its merger with Island Press.
In other share price changes, BF&M 9% fell 25 cents to close at $9.50 on volume of 1,339 shares and Bank of Bermuda 9% notes fell 75 cents to close at $104.25 on volume of 200 units.
