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Butterfield shares gain 4.4% on BSX

Bank boost: Butterfield shares rose on the BSX and the New York Stock Exchange

Butterfield Bank shares gained 4.4 per cent in Bermuda Stock Exchange trading.

The bank added $1.50 to close on $35.50 as 376 shares changed hands.

Butterfield’s US-listed shares also gained ground on the New York Stock Exchange, climbing 83 cents, or 2.4 per cent, to close on $36.71.

The most actively traded stock on the BSX was BF&M Ltd. The insurer remained unchanged on $15.50 as 3,896 shares were traded.

Butterfield’s gains were enough to drive The Royal Gazette/BSX Index 67.46 points, or 3.1 per cent higher, to close on 2,215.19.

Trading in shares of Ascendant Group Ltd was suspended ahead of the company’s afternoon announcement that it was inviting takeover offers.

BSX trading volume totalled 4,272 shares and turnover was $73,736.

The BSX Insurance Index advanced 10.07 points, or 0.68 per cent, to close on 1,496.63.