Polaris shares soar to six-year high
There were mixed fortunes in Bermuda Stock Exchange trading last week as three stocks fell, but two others rose by double-digit percentages.
The heaviest trading activity was in shares of Argus Group Holdings Ltd, which fell 20 cents, or 4.2 per cent, to close on $4.55, as 232,000 shares changed hands.
Fellow insurer BF&M Ltd also fell 25 cents, or 1.2 per cent to close at $20.50, as 36,676 of its shares were traded.
In the week that Butterfield Bank launched a secondary offering of 9.5 million shares on the New York Stock Exchange priced at $31.75, the bank's shares on the BSX were thinly traded. Butterfield closed at $32, down 60 cents, or 1.8 per cent, as 1,601 shares were exchanged.
The biggest climber of the week was Bermuda Press (Holdings) Ltd, which soared $1.90, or 26.8 per cent, to $9, its highest closing price in more than six years. The company owns The Royal Gazette, as well as printing, retail and real estate interests. The move came in the week BPHL announced increased full-year profits of $1.26 million.
Polaris Holding Co Ltd, owner of Hamilton docks operator Stevedoring Services, also had a very positive week, as its shares gained 70 cents, or 17.3 per cent, to close on $4.75. For Polaris, this was the highest closing price in more than six years.
The Royal Gazette/BSX Index fell 29.6 points, or 1.51 per cent, to close on 1,958.57. Trading volume was 280,477 shares with a value of $1.91 million.