BSX daily trade report
Argus shares gain on high volume
Argus Group Holdings Ltd’s shares gained on unusually high trading volume on the Bermuda Stock Exchange.
The insurer gained 10 cents, or 2.5 per cent, to close at a 52-week high of $4.10 as 73,000 shares changed hands.
Last Friday, Argus announced an $18.6 million annual net loss, mostly driven by a balance sheet restructuring which realised $19.5 million of writedowns associated with the sale of illiquid, noncore assets.
Argus’s climb added 2 points to The Royal Gazette/BSX Index, which closed at 2,728.4.
Butterfield Bank’s US-listed shares advanced 62 cents, or 1.3 per cent, to close on $48.44 in New York.
The BSX Insurance Index fell by 0.8 of a point to close on 1,853.69.
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