The Royal Gazette/Bermuda Stock Exchange index dipped yesterday after Bank of Butterfield shares lost some ground.

Bermuda's oldest bank lost 25 cents to close at $44.50. BF&M also lost 25 cents to finish at $15.75.

Argus Insurance, however, gained $3.40 or 13.3 percent to end the day's trading at $22.10 and KeyTech also gained $1 to close at $15.00.

The index closed down 39.48 points or 1.2 percent at 3,256.37 on a volume of 15,253 shares worth $620,881.50.