Confirmation that Bermuda Commercial Bank is up for sale and Butterfield Bank is looking at buying it sent the stock price of the Island's third bank's shares soaring more than 30 percent yesterday.

BCB, which had seen its chairman John Deuss resign this month said this week that it was in talks with several possible buyers. Butterfield confirmed it was one of the possible purchasers the next day and has been described as having the inside track.

BCB shares jumped $2.45 cents or 30.6 percent to close at $10.45 as investors traded in 5,000 shares. The Bank's warrants also rose, gaining ten cents to close at $1.20 on volume of 2,700 shares.

The increases helped the Royal Gazette/Bermuda Stock Exchange Index gain 10.52 points yesterday to close at 4,950.25.

The gains offset a fall in the shares of KeyTech ? which now seems unlikely to bought by Cable & Wireless after Government opposed the deal ? of 35 cents to close at $15.55 as 100 shares changed hands.

Kentucky Fried Chicken traded in 3,000 shares to close unchanged at $6 and Argus traded in 48 shares to close unchanged at $14.50

The total value of the shares bought and sold on the BSX yesterday was $75,765.00 and the overall volume of shares was 10,848.