Shares of Butterfield Bank gained strongly in Bermuda Stock Exchange trading to lead The Royal Gazette/BSX Index to a 1 per cent gain for the week.

Butterfield surged $1.30, or 2.9 per cent, to close the day on $46 as 2,201 shares changed hands. The bank’s US-listed shares climbed 29 cents, or 0.6 per cent, to close on $46.53 in New York.

The index gained 58.47 points, or 2.3 per cent, to close the week on 2,573.85.

The BSX Insurance Index slipped 28.79 points, or 1.5 per cent, to 1,894.59.