its stock to close at $20.50.

The gain helped drive the Exchange Index up 3.84 points to close at 1169.49.

Volume in the Bank of Bermuda was 784 shares.

The gain offset declines in Bermuda Commercial Bank, which lost 12.5 cents in profit-taking to close at $11.875 on volume of 3300 shares, and Argus, which fell 25 cents to $11.25 on volume of 1000.

Bank of Bermuda 9% shares fell 37.5 cents to close at $107.125 on volume of 1000 units.

Trading unchanged were: Telco, $38.25, 100 shares; and BF&M 9% preference shares, $10, 100. Chart: Page 13.