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Polaris shares gain 40% in light trading

Polaris Holding Company shares surged on the BSX

Shares of Polaris Holding Company jumped 40 per cent in light trading on the Bermuda Stock Exchange.

The company, which owns Hamilton docks operator Stevedoring Services, gained $2 to close on $7 as 1,000 shares changed hands.

Polaris acquired East End Asphalt in a $4 million deal last month as the company sought to diversify its interests.

The only other stock to trade was Argus Group Holdings Ltd. The insurer was unchanged at $3.60 as 300 shares were traded.

The Royal Gazette/BSX Index added 2.35 points, or 0.11 per cent, to close at 2,217.54.

BSX trading volume totalled 1,300 shares and turnover was $8,080.

The BSX Insurance Index fell 13.78 points, or 0.92 per cent, to close on 1,482.85.

Butterfield Bank’s US-listed shares fell 95 cents, or 2.59 cent, to close on $35.79 on the New York Stock Exchange.