Butterfield Bank and Belco Holdings Ltd. propelled local stocks to a fifth successive positive week.

The Royal Gazette / Bermuda Stock Exchange (BSX) Index rose 64.13 points, or 2.7 percent, over the five days of trading, to close Friday on 2,368.7.

The BSX was closed yesterday for the Bermuda Day holiday.

Butterfield Bank was the main driver, gaining 6.7 percent on the trading of more than 243,000 shares.

The bank, which is scheduled to announce the terms of its $200 million Government-guaranteed sale of preferred stock any day, gained 35 cents to close on $5.55.

Energy company Belco gained 70 cents, or 4.4 percent, to end the week on $16.50, as 4,600 of its shares changed hands. Insurer Argus Group Holdings Ltd. was another company to advance, gaining five cents, or 0.7 percent, to $7.05, as 2,000 shares traded.

Telecommunications company KeyTech Ltd. was the sole domestic listed company to lose ground last week, falling 45 cents, or 4.5 percent, to $9.50.

On the BSX, share volume for the five days was 253,532 and turnover was a little more than $1.44 million.