Shares of Butterfield Bank gained more than 3 per cent in Bermuda Stock Exchange trading today to send the local index higher.

Butterfield closed on $33, up $1 or 3.1 per cent, as 3,732 shares changed hands. The bank’s New York Stock Exchange-listed shares gained 45 cents, or 1.3 per cent, to close on $33.80.

Ascendant Group, parent company of power utility Belco, slumped 65 cents, or 7 per cent, to close on $8.60, retreating from a 52-week high, as 9,000 of its shares were traded.

Insurer BF&M Ltd also fell, dipping 10 cents, or 0.5 per cent, to close on $20.65.

The Royal Gazette/BSX Index gained 37.94 points, or 1.9 per cent, to close on 1,998.24.

Trading volume was 16,432 shares and turnover totalled $276,344.28.

The BSX Insurance Index gained 2.94 points to close on 1,866.86.