in a week marked by the election of the new Progressive Labour Party government and shortened by a public holiday.

The Bermuda Stock Exchange index fell 4.21 percent or 54.264 points to close at 1,289.00 in a week of moderate trading.

The decline in the bank share came on volume of 9,385 shares, with the stock dropping $2 on Friday. Bank of Bermuda warrants followed suit, falling $2 to $5, a drop of 28.57 percent, on volume of 3,097 warrants.

Bank of Butterfield held steady at $15 on volume of 1,000 shares, while Bermuda Commercial Bank held at $5 for the week on heavy volume of 15,795 shares. After dipping earlier in the week, it came back by 13 cents on Friday in the wake of strong results released on Thursday afternoon.

Bermuda Press (Holdings) Ltd., the owners of The Royal Gazette , dropped 25 cents or 2.13 percent to close at $11.50 on volume of 509 shares, while BTC gained 50 cents to end the week at $32 on volume of 2,569.

The BSX/FTSE Insurance Index, made up of Bermuda-based insurers traded on overseas stock exchanges, rose 7.14 points to close at 829.32.

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