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Local Update The Bermuda Stock Exchange closed down 8.7 points or .84 percent at 1,025.34 as two issued closed down and two gained.

Bank of Bermuda dropped 37.7 cents to close at $18.25 on volume of 3,189 while BF&M closed down 25 cents at $6.50 on volume of 6,445.

Bermuda Home gained 25 cents to close at $8.25 on volume of 350 while Argus closed up 12.5 cents at $11.125 on volume of 1,153.

Share volume was 11,137 with a value of $116,479.88.