The Royal Gazette/BSX Index gained strongly last week, with the advance led by a rally in shares of Butterfield Bank.

Butterfield, one of four domestic-board stocks to advance, climbed 5.1 per cent during the week, adding nine cents to close on $1.84 on the trading of 74,100 shares.

The biggest gainer was Devonshire Industries, owner of Bermuda Paint, which leaped $2, or 50 per cent, to close on $6 as 1,500 changed hands.

KeyTech also gained strongly, jumping 35 cents, or 13.7 per cent, to $2.90 in the week that the company revealed US firm Atlantic Tele-Networks had taken a controlling interest in the firm. As part of the deal, KeyTech shareholders will receive a 75-cent special dividend. A total of 62,862 shares changed hands.

BF&M Ltd gained 79 cents, or 4.7 per cent, to close on $17.50, as 900 shares traded.

Rival insurer Argus Group Holdings dipped 19 cents, or 4.8 per cent, to close on $3.81, as 1,200 shares changed hands.

The index gained 47.45 points, or 3.77 per cent, to close the week on 1,255.4. More than 141,000 shares traded, while turnover totalled almost $350,000.