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Banks knock BSX Index

Falls in financial stocks drove the The Royal Gazette/Bermuda Stock Exchange Index down 66.724 points last week to close at 4,883.53.

During a light week of trading, Argus fell $1.50 to close at $13 as 11,523 shares changed hands.

Butterfield Bank fell 25 cents to close at $56.25 on volume of 20,689 shares and Bermuda Commercial Bank fell 50 cents to close at $9.95.

The drops offset a jump in West Hamilton shares, which gained $5 to close at $60 as investors traded in 200 shares.

Kentucky Fried Chicken traded in 2,500 shares to close unchanged at $6, BF&M traded in 1,200 shares to close unchanged at $16 and 1,600 KeyTech shares changed hands to close unchanged at $15.55.

The total value of the shares bought and sold on the BSX last week was $1,549,457.50 and the overall volume of shares was 53,444 shares.