Bermuda Stock Exchange

Butterfield shares fall 4% in New York

The Royal Gazette/BSX Index remained unchanged on 1,839.21 as no shares traded.

The BSX Insurance Index fell 47.91 points, or 3.41 per cent, to close on 1,358.03.

The US-listed shares of Butterfield Bank fell 97 cents, or 3.97 per cent, to close on $23.44 on the New York Stock Exchange as 419,292 shares changed hands.

Butterfield last traded at $25.25 on the BSX.

For the week, the BSX index edged 0.53 per cent higher, driven by insurers Argus Group Holdings Ltd and BF&M Ltd, which rose 2.2 per cent and 9.1 per cent, respectively, over the five days of trading. These gains were offset by a 25 per cent fall in the share price of Bermuda Press (Holdings) Ltd, which owns this newspaper, as well as commercial printing, retail and real estate interests.