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Insurers’ shares gain on BSX

BF&M and Argus headed higher in BSX trading

Shares of BF&M Ltd gained in heavy volume on the Bermuda Stock Exchange.

The insurer rose 15 cents, or 0.8 per cent, to close on $17.90 as 50,000 shares changed hands.

Rival insurer Argus Group Holdings Ltd gained 10 cents, or 2.6 per cent, to close on $4 on the trading of 10,051 shares.

The only stock to fall was Bermuda Aviation Services Ltd, which slid 40 cents, or 20 per cent, to close on $1.60 as 980 shares were exchanged.

The Royal Gazette/BSX Index climbed 1.29 points to close the week on 2,651.71. BSX trading volume totalled 61,237 shares, while turnover was $941,703.29.

For the week, the index tumbled 71.5 points, or 2.7 per cent, driven by falls in the value of the two largest companies on the index, Butterfield Bank, down 3.2 per cent and Somers, down 10 per cent.

The BSX Insurance Index fell 3.73 points, or 0.2 per cent, to close on 1,786.66.