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Heavy trade in Watlington leads BSX higher

Up week: Butterfield and Watlington Waterworks helped to lift The Royal Gazette/BSX Index higher last week

Heavy trading in shares of Watlington Waterworks was the highlight of the week in Bermuda Stock Exchange trading.

Some 75,000 shares valued at more than $2 million changed hands in a stock that traditionally sees light trading.

Watlington gained $7, or 34.1 per cent, on the activity, which boosted its market capitalisation to $29.2 million.

The other gainer last week was Butterfield Bank, which climbed 50 cents, or 1.6 per cent, to close the week on $32, as 10,600 shares changed hands.

Argus Group Holdings was the only stock to fall, dipping 5 cents, or 1.1 per cent, to end the week on $4.70, as 15,200 of the insurer’s shares were traded.

Nine thousand shares in One Communications were also exchanged, leaving the telecoms group unchanged on $2.60.

The Royal Gazette/BSX Index gained 28.43 points, or 1.44 per cent, during the week to close on 1,968.21. Trading volume was 109,800 shares, while turnover topped $2.49 million.