Butterfield Bank shares gained 2.6 per cent in Bermuda Stock Exchange trading.

The bank’s rise, on the trading of 3,751 shares, drove The Royal Gazette/BSX Index to climb nearly 2 per cent, or 45.18 points, to close on 2,321.77.

Butterfield’s US-listed shares gained 16 cents, or 0.4 per cent, to close on $39.75.

Insurer Argus Group Holdings also gained ground on the BSX, climbing one cent, or 0.3 per cent, to close on $3.50 as 5,808 shares changed hands.

The most heavily traded stock was Ascendant Group, parent company of Belco, which remained unchanged on $17, as 37,532 shares were exchanged.

Among international companies, HSBC Holdings gained 15 cents, or 1.79 per cent, to close on $8.50 on the BSX as 3,155 shares changed hands.

The BSX Insurance Index fell 13.07 points, or 0.84 per cent, to close on 1,539.6.