Butterfield shares rebound 12.7%
Two consecutive large swings in the price of Butterfield Bank shares on The Royal Gazette/BSX Index have led to equally big shifts for the local exchange.
The bank's shares rebounded $4.95, or 12.7 per cent, to close at $44 after 384 traded today. That follows a $5.95 decrease, or 13.22 per cent drop, on Wednesday when 100 shares changed hands.
The fall on Wednesday resulted in the local exchange experiencing a 10 per cent drop, while today's rebound in the bank's share price contributed to an improvement of 224.63 points, or 9.91 per cent, for The Royal Gazette/BSX Index, which closed at 2,491.23.
Elsewhere on the local exchange, Argus Group Holdings Ltd improved by 10 cents, or 2.6 per cent, after 5,500 of its shares changed hands.
On the New York Stock Exchange, shares of Butterfield Bank were up 66 cents, or 1.49 per cent, to $44.88.
The BSX Insurance Index was down 7.38 points, or 0.39 per cent, at 1,907.89.