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BF&M leads BSX higher

Boost from insurers: gains in the share prices of BF&M and Argus propelled The Royal Gazette/BSX Index higher last week

BF&M Ltd shot up 13.6 per cent on substantial trading volume to drive The Royal Gazette/BSX Index higher last week.

The insurer’s share price gained $2.45 during the week to close on Friday at a 52-week high of $20.50 on the trading of 27,000 shares.

Ascendant Group Ltd also made a major move higher, but on low volume. The owner of power utility Belco closed the week up 47 cents, or 7.2 per cent, after just 200 shares changed hands.

Argus Group Holdings Ltd was another firm to see gains. The insurer climbed 12 cents, or 2.7 per cent, to close on $4.50 as 2,000 shares changed hands.

And Devonshire Industries, the owner of the Bermuda Paint Company, added 25 cents, or 4.5 per cent, to close the week on $5.75, as 200 of its shares were traded.

Butterfield Bank fell 10 cents, or 0.4 per cent, to close on $25, as 8,885 shares were traded.

The Royal Gazette/BSX Index rose 21.29 points, or 1.29 per cent to close on 1,638.43 during the five days of trading. Trading volume was 38,434 shares and turnover totalled $778,772.75.