Insurer Argus Group Holdings plunged more than 18 percent last week as the Bermuda Stock Exchange continued on its downward trend.

Argus sank $1.40 over a four-day trading week, shortened for the Good Friday holiday, to close on $6.10, its lowest closing price since the summer of 2003, as a little more than 4,000 of its shares changed hands.

It was another grim week for The Royal Gazette / Bermuda Stock Exchange (BSX) Index, which plunged 7.8 percent following its 10 percent fall the previous week.

The BSX shed 158 points, to close at 2,008.64 on Thursday, its lowest close for more than eight years. The BSX has now plunged 41 percent this year, weighed down largely by Butterfield Bank.

The bank had another bad week on the market, as its share price fell 40 cents (8.9 percent) to close the week on $4.10, on the trading of 74,569 shares.

Telecommunications company KeyTech Ltd. plunged more than 15 percent, as it tumbled $1.50 to close Thursday on $8. Four thousand of its shares changed hands.

Power company Belco Holdings Ltd. was the only stock to advance last week, gaining 25 cents (1.66 percent) to close on $$15.25, as 3.025 shares traded.

But Bermuda Aviation Services Ltd. suffered a steep fall on low volume, plunging 55 cents (9.9 percent) to close on $5.

Insurer BF&M Ltd. shed five cents (0.3 percent) to close the week on $15.45, as 2,000 shares changed hands.

BSX volume was 90,341 shares and turnover was $472,479.35.