The Royal Gazette/Bermuda Stock Exchange Index fell 0.13 percent, or 4.67 points, after moderate trading that saw only the shares of two BSX listed move.

Butterfield Bank shareholders traded 14,182 shares. While the value of the bank?s shares was unchanged at $43.50, the trading of its shares accounted for all but about $4,000 of the $621,000 in total BSX turnover yesterday.

Belco Holdings investors bought and sold 100 of the utility company?s shares while pushing down the price 50 cents to a $40 closing price.

The shares of most Bermuda-based insurers and reinsurers trading on international stock exchanges, primarily the New York Stock Exchange, traded down in the one to two percent range yesterday.

Montpelier Re Holdings was an exception with its shares closing up nearly one percent, while Quanta Capital Holding saw its shares slide seven percent, compared to the smaller range dips sustained by peer insurance and reinsurance companies.