Two transportation companies and an insurer lost ground to push The Royal Gazette / Bermuda Stock Exchange (BSX) to its lowest level since December 2003.

Bermuda Aviation Services Ltd. (BAS) suffered the biggest fall, as its share price plunged 19.2 percent. BAS shed $1.20 to close on $5.05, as 1,000 shares were traded.

BF&M Ltd. plunged 4.7 percent on the trading of 1,000 shares. The 80-cent fall left the insurer on $16.10 by the close of trading yesterday.

Stevedoring Services Ltd. fell 15 cents, or 2.1 percent, to close on $6.85, as 2,000 shares changed hands.

There was also trading in Butterfield bank (1,500 shares) Bermuda Press (Holdings) Ltd. (1,101 shares) and Belco Holdings Ltd. (500 shares), but none of those three changed value.

Also yesterday, the board of Argus Group Holdings Ltd. declared a quarterly dividend of 16 cents per share. This dividend is payable on 15 April, 2009 to shareholders of record on 31 March, 2009.

The BSX Index fell 22.81 points, or 0.8 percent, to settle on 2,822.10. Volume was 7,101 shares and turnover was $66,736.

The BSX Insurance Index of the Island's leading international insurers fell 1.14 percent to close on 726.38.