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Butterfield shares shed $1

Bank drag: a fall in Butterfield shares prompted a 2.3 per cent fall in The Royal Gazette/BSX Index

Butterfield Bank fell sharply on low volume in Bermuda Stock Exchange trading today.

The bank’s shares dipped $1, or 3.1 per cent, to close on $31 as 100 shares changed hands on the day Butterfield announced a $115.9 million profit for 2016.

Butterfield was the only stock to trade. On the New York Stock Exchange, Butterfield’s shares fell 1.3 per cent to close on $32.15.

The Royal Gazette/BSX Index fell 44.98 points, or 2.29 per cent, to close on 1,917.17.

The BSX Insurance Index, comprised of the island’s leading international re/insurers, rose 10.51 points, or 0.58 per cent, to close on 1,826.57.