Shares of Butterfield Bank last week rose 35 cents, or 20.6 per cent, to close at a new 52-week high of $2.05. A total of 136,253 shares changed hands during the first full week of trading since the bank announced on August 4 that it had filed for a proposed IPO in the US.

The improved performance of the bank’s shares helped lift The Royal Gazette/BSX Index 157.79 points, or 11.3 per cent, to 1,384.2. Shares totalling about $1.9 million in value were traded on the exchange during the week.

BF&M shares edged up five cents, or 0.3 per cent, to close at $17.15 after 880 changed hands. There was a large volume of trading in Argus Group, with 328,000 shares changing hands, but with no change to the closing price of $3.90.

Government of Bermuda 4.75 per cent senior notes lost 95 cents, or 1 per cent, to close at $98 after 15 traded.

The BSX Insurance Index was down 3.26 points, or 0.2 per cent, at 1,949.88.