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Argus and BF&M see big share-price moves

Flat week: the Royal Gazette/BSX Index closed almost unchanged after the five days of trading

The Royal Gazette/BSX Index was virtually flat last week despite substantial moves in the share prices of two major insurers.

Argus Group Holdings plunged 7.5 per cent last week, while BF&M Ltd gained 4.3 per cent. The only other price to change was that of Ascendant Group Ltd, the owner of electricity company Belco falling 0.2 per cent.

Argus’s move, a fall of 30 cents that left the share price at $3.70 at the close of Bermuda Stock Exchange trading on Friday, came on the trading of 20,200 shares.

BF&M rose 70 cents to $17 as 3,500 shares changed hands, while Ascendant’s 1-cent fall to $4.40 came with the trading of 4,200 shares.

Butterfield was unchanged for the week at $1.64, but was the most actively traded stock with nearly 120,000 shares changing hands. LOM Financial Ltd saw unusually high volume as 24,372 of its shares were traded, as the price remained on $2.30.

The index fell 0.87 of a point to close at 1,164.36. Trading volume was 172,265 shares, while turnover was more than $462,000.