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Local Update

Stock Exchange on Friday, with 6,000 changing hands for $10 each -- 50 cents per share down on their last traded price.

The Bank of Bermuda's nine percent notes proved popular, attracting trading valued at $215,000.

Argus Insurance dropped by 12.5 cents to $11..875 on volume of 550. Trading unchanged were: Bank of Bermuda, $20, 445 shares; Bank of Butterfield, $32, 3,305; and Belco, $31, 310.

The Exchange Index closed at 1,133.38 -- down by 0.65.