Argus shares rocket 37%
Shares of Argus Group Holdings rocketed 37 per cent in Bermuda Stock Exchange trading.
The insurer gained $1.08 to close on $4 as 21,000 shares changed hands.
Despite Argus’s big move, The Royal Gazette/BSX Index fell 102.36 points, or 5.19 per cent, to close on 1,871.29. For the week, the index declined 5.27 per cent.
The main driver was a 10 per cent fall in the share price of Butterfield Bank, the index’s largest component. Butterfield fell $2.79 to close on $25.21 as 532 shares traded.
Butterfield’s US-listed shares moved in the other direction, climbing 49 cents, or 1.89 per cent, to close on $26.46.
BF&M gained 20 cents, or 1.1 per cent, to close on $18.70 on the trading of 3,000 shares.
The only other domestic-board stock to trade was Somers Ltd, the financial-services investment company, which remained unchanged on $14 as 100 shares changed hands.