Butterfield Bank sunk another 30 cents (7.89 percent) to $3.50 on The Royal Gazette/Bermuda Stock Exchange Index (BSX) yesterday.

The bank traded 56,000 shares.

LOM (Holdings) Ltd. also fell five cents (1.33 percent) to $3.70, as 43,515 shares changed hands.

On Monday LOM (Holdings) announced it intended to buy back a number of listed securities following the launch of its 2009 share repurchase programme.

In view of the disparity between the current share price and the book value of shares, the company's Board of Directors authorised management to purchase shares for cancellation at a cost not exceeding $500,000.

The Bermuda Stock Exchange (BSX) was advised by LOM Ltd. of a crossing transaction of 50,000 LOM (Holdings) shares at $3.70 per share.

The BSX said the transaction was made by LOM as an agent for LOM Securities (Bermuda) Ltd. and LOM Securities (Bahamas) Ltd.

KeyTech Ltd., meanwhile, declined five cents (0.5 percent) to $9.95, with 4,000 shares transacted.

The Index, as a whole, dropped 54.3 points (2.64 percent) to 2,000.25, with 103,515 shares worth $395,149.60 traded.

The BSX Insurance Index also slid 0.16 points (0.02 percent) to 799.57.