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BSX up on Bank shares

The Royal Gazette/Bermuda Stock Exchange Index picked up slightly yesterday on the back of rising Butterfield Bank shares.A total of 3,600 of the Bank's shares changed hands as the issue closed up 25 cents at $56.50.The only other mover in a quiet day of trading was Bermuda Container Line Ltd, whose share price dropped 11.1 percent, or $1.50, to $12, as 180 of the company's shares traded.

The Royal Gazette/Bermuda Stock Exchange (BSX) Index fell by 0.32 percent yesterday as three issues saw their share price take a knock.

The biggest faller was West Hamilton Ltd., which fell $10 (16.7 percent) to close at $50 a share after 400 shares traded. West Hamilton was formerly known as Bermuda Bakery and was listed on the BSX main board for domestic large capitalisation companies last November.

The Argus Group, which yesterday announced its acquisition of Tremont International Insurance Ltd., lost 25 cents (1.8 percent) to close at $13.75 after 3,000 shares traded.

One thousand Bermuda Commercial Bank shares also traded, as the BCB stock price ended the day at $8.25, down by 25 cents (2.9 percent).

Butterfield Bank remained unchanged at $56.50 after 844 of its shares changed hands.

The Index finished yesterday at 4,858.52, down by 15.71 points. The volume of shares traded amounted to 5,351, with a total value of $119,031.75.