Hefty falls for Argus Group Holdings Ltd., KeyTech Ltd. and MediaHouse Ltd. resulted in a negative week for local stocks.

The Royal Gazette / Bermuda Stock Exchange fell 36.46 points, or 2.8 percent, to close Friday on 1,300.03.

Insurer Argus suffered the most severe fall, plunging $1.25, or 16.1 percent, to close on $6.50 on the trading of 4,300 shares.

Telecommunications company KeyTech tumbled 80 cents, or 10.2 percent, to close the week on $7.

MediaHouse, owner of the Bermuda Sun and printing interests in the Caribbean, fell by $1, or 7.7 percent, to $12 as 300 shares changed hands.

Bermuda Commercial Bank Ltd. also saw its share price slip by 33 cents, or 3.3 percent, to $9.55, as 2,200 shares were exchanged in the first trading since the bank's takeover was announced. Butterfield Bank's shares climbed five cents, or 3.8 percent, to $1.35, as 87,672 shares were traded. The rise helped to boost the value of rights to buy Butterfield shares for $1.21 as part of the ongoing rights offering. The rights rose two cents, or 50 percent, to six cents, as more than 13.7 million rights changed hands.

Turnover for the week was just shy of $1.1 million.