yesterday on the Bermuda Stock Exchange, an indication investors are anticipating even further gains in the stock.

The warrants give holders the right to buy Bank of Bermuda stock at a price of $25. The warrants expire January 31, 2000. The underlying stock traded yesterday reached another high of $37, a gain of $1.50. Bank of Butterfield stock also reached a new high of $18.25, on a gain of 25 cents yesterday.

The gains boosted the stock exchange index into a new record high of 1,639.53, a gain of 38.61 on a volume of 16,292 shares worth 332,803.