Butterfield Bank led local stocks lower last week.

The bank’s share price slid five cents, or 2.8 per cent, to $1.75 — its lowest closing price since last October. During the five days of Bermuda Stock Exchange trading, 22,800 of the bank’s shares changed hands.

Butterfield’s 8 per cent preference shares also dropped, dipping $8, or 0.7 per cent, to close on $1,102 as 148 shares traded.

BF&M Ltd was the other stock to fall, the insurer shedding nine cents, or 0.5 per cent, to close on $16.90 on the trading of 3,900 shares.

Rival insurer Argus Group was the one stock to rise last week, surging 30 cents, or 8.3 per cent, to close on $3.90, as 5,000 of its shares changed hands.

The Royal Gazette/BSX Index fell 16.85 points, or 1.38 per cent, to close the week on 1,220.18.

Total BSX trading volume last week was 32,588 shares, while turnover topped $292,000.