Local stocks continues to rise to record highs last week, with a number of local companies hitting their 52-week highs.

The rise in the Royal Gazette/Bermuda Stock Exchange Index has largely occurred since the announcement of the proposed sale of the Bank of Bermuda to banking giant HSBC Plc.

That has sparked investor interest in the possibility that the Bank of Butterfield could also be sold, and there is also anticipation that if the Bank of Bermuda sale goes through, its shareholders will be looking at other local stocks to put their money.

The Index rose 35.689 points last week to close at another all time high of 3,195.92.

The Bank of Butterfield traded 26,230 shares while its price held steady at $44.25, 75 cents short of its all-time high.

Bermuda Commercial Bank saw 10,045 shares change hands, gaining 50 cents to close at $9.75, its high for the year.

Argus Insurance Co. Ltd. saw 503 shares trade while the price rose 50 cents to $26 ? its 52-week high.

BF&M Ltd. shares were also active in the week with 3,700 trading while 60 cents were gained to close the share price at $12.60, also its high for the year.

One hundred shares were traded for Bermuda Aviation Services Ltd. and the price moved up $3.50 or 46.67 percent to reach its 52-week high of $11.

Belco hit its high for the year as 1,404 shares changed hands and its value went up 50 cents to $37.50. KeyTech Ltd. ? the parent company of BTC, Mobility and Logic Communications ? saw its shares rise $1.05 or 16.18 percent to $14 (its 52-week high) while investors bought and sold 2,434 shares.