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Local Update

of 238 on the Bermuda Stock Exchange on Friday. It was the first time the company's shares have traded since October 27, 1992.

It was a bad day for Bermuda's biggest banks, though, with the Bank of Bermuda slipping by 50 cents to $24.50 on a volume of 1,042 and the Bank of Butterfield falling by the same amount to $28 on a volume of 1,966.

Also dropping by 50 cents was BF&M preference stock, which closed at $11.50 on a volume of 355.

Belco shares went up by 25 cents to close at $21.25 on a volume of 280 and Bermuda Aviation Services, which this week announced a $15,000 profit for fiscal 1993, went up by $3 to $3.50 on a volume of 426.

Trading unchanged was Argus Insurance, which closed at $11.75 on a volume of 700.

The Exchange Index ended the week at 1,207.42 -- down by 12.33 on the day.

Shares worth $1.642 million were traded during the week.