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Butterfield shares climb 2.6%

Bank boost: Butterfield shares surged 2.6 per cent on the BSX

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.