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Butterfield shares surge 13%

The Royal Gazette/BSX Index surged 9.2 per cent higher today, driven by a double-digit percentage advance in the price of Butterfield Bank shares.

Butterfield gained 22 cents, or 13.3 per cent, to close on $1.87 on light volume, as 3,100 of its shares changed hands.

BSX-listed insurers also clocked up hefty gains. Argus Group Holdings Ltd gained 30 cents, or 8.3 per cent, on the trading of 2,500 shares, to close on $3.90. BF&M Ltd added 75 cents, or 4.3 per cent, to hit $18 as 1,500 shares changed hands.

Bermuda Press (Holdings) Ltd, which owns this newspaper, stayed on $7 as 702 shares were traded.

The Index closed 110.23 points higher at 1,306.30. Trading volume totalled 7,802 shares, while turnover was $46,620.90.

The BSX Insurance Index added 1.13 points to close on 1,579.33.