A 50-cent fall in Butterfield's share price to $12.125 on volume of 9,258 shares helped drive the Index down 9.37 points to 1063.73 in active trading.

The drop offset rises in Bermuda Home, up 75 cents to $7.50 on volume of 3,062.

The Bank of Bermuda Limited warrants improved $0.125 from $2.875 on a volume of 1,500.

Argus Insurance increased $0.375 from $10.50 on a volume of 600.

Additionally the Bermuda Electric company also improved from $0.125 up from $20 on a volume of 1,000.

Meanwhile the Bank of Bermuda Limited, Bermuda Home eight percent preference shares and the Bermuda Telephone Company Limited were all unchanged closing at $19, $11.625 and $35.50 respectively.