Butterfield Bank shares surged ten percent in Bermuda Stock Exchange trading yesterday to lead local stocks higher.

The bank gained 15 cents to close the day on $1.65, on the trading of 21,600 shares.

That price represents a more than 35 percent premium over the $1.21 that participants in the bank's $130 million rights offering paid just three months ago.

Bermuda Aviation Services Ltd. also rose 5.3 percent, or 25 cents, to close the day on $4.95, as 100 shares changed hands.

The Royal Gazette / BSX Index surged 72.85 points, or 5.7 percent, to 1,348.22. Volume was 34,068 shares and turnover was almost $172,000.

Others to trade included Bermuda Commercial Bank Ltd., which was unchanged on $9.90, as 8,000 of its shares were exchanged.

Insurer BF&M Ltd. also remained unchanged on $13 as 4,368 of its shares traded.