An improvement in the price of Argus shares was the only movement on the Royal Gazette/Bermuda Stock Exchange Index as it moved 17.32 points (0.35 percent) higher to close at 4,997.38.

Insurance group Argus saw its shares increase in value by 50 cents (3.5 percent) to $14.75 after 7,000 were traded.

Two hundred Belco shares were also exchanged but there was no change it the company's closing price of $23.80.

A small number of Butterfield Bank shares, just 87, were also traded at $59.25 each, again there was no effect on the closing price.

The total number of local shares traded on the Exchange was 7,287, representing a value of $112,730.