Butterfield Bank and Argus Group led a rally that drove The Royal Gazette/BSX Index up nearly 4 per cent last week.

Butterfield soared 5.8 per cent to close the week 11 cents up at $2, as 168,134 shares changed hands.

With a market capitalisation of almost $954 million, Butterfield is by far the biggest influence on the index.

Insurer Argus gained 4.7 per cent, as it ended the week up 18 cents at a 52-week high of $4, as 13,400 of its shares traded.

Ascendant Group also gained 1 per cent, rising five cents to close on $5.05 on Friday. A total of 4,100 Ascendant shares were traded.

BF&M Ltd was the only stock to fall, slipping 0.8 per cent to $16.86, as 2,600 shares traded.

The index climbed 51.49 points, or 3.8 per cent, to close the week on 1,349.03. Volume totalled 188,534 shares, while turnover was $455,490.20.