The Royal Gazette/BSX Index rose for a sixth day in succession as Butterfield Bank shares climbed 0.6 per cent.

Butterfield gained 20 cents today to close on a new high for this year of $35.20 as 2,716 shares changed hands. It was the only stock to trade on the BSX.

The bank’s New York Stock Exchange-listed shares did even better, gaining 77 cents, or 2.2 per cent, to close on $35.89, as lenders’ stocks rose in expectation of higher interest rates as the US Federal Reserve announced an October start to the unwinding of its $4.5 trillion balance sheet.

The BSX Index gained 9 points, or 0.4 per cent, to close on 2,098.47. The index is up by 9 per cent this year to date.

The BSX Insurance Index also gained, adding 6.41 points, or 0.35 per cent, to close on 1,841.4.