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BSX drops 48.5 points

<I>The Royal Gazette</I>/Bermuda Stock Exchange yesterday fell 48.5 points to close at 2,568.59.The Bank of Butterfield saw the highest volume of trading with 5,500 shares trading while the bank's stock value fell by a sharp $2 to close at $30.50.The only other activity on the exchange yesterday came from movement of local insurance company BF&M which saw its shares fall $1 to $11 while 463 shares changed hands.

The Royal Gazette/Bermuda Stock Exchange yesterday fell 48.5 points to close at 2,568.59.

The Bank of Butterfield saw the highest volume of trading with 5,500 shares trading while the bank's stock value fell by a sharp $2 to close at $30.50.

The only other activity on the exchange yesterday came from movement of local insurance company BF&M which saw its shares fall $1 to $11 while 463 shares changed hands.

On the Nasdaq exchange, the Bank of Bermuda closed up 20 cents at $44.85 on volume of 14,000 shares.