Butterfield shares slump 15% on BSX
Shares of Butterfield Bank plunged 15.2 per cent in Bermuda Stock Exchange trading.
The bank dived $5 on the trading of 900 shares to close on $28.
Butterfield’s US-listed shares gained nine cents, or 0.29 per cent, to close on $31.29 on the New York Stock Exchange.
Argus Group Holdings Ltd gained four cents, or 1 per cent, to close on $3.96, as 14,600 shares changed hands.
Butterfield’s slump resulted in a fall of 246.38 points, or 11.54 per cent, for The Royal Gazette/BSX Index, which closed on 1,889.02.
The BSX Insurance Index gained 12.05 points, or 0.75 per cent, to close on 1,616.46.