The Royal Gazette/Bermuda Stock Exchange Index closed down last week, with all stocks that changed price losing value.

The Index closed down 56.341 points or 1.17 percent to at 4,826 after a week of moderate volume, although ten issues saw action.

Belco Holdings led decliners, falling $1.95 or 7.82 percent to close at $23 on volume of 2,300 shares.

Bermuda Commercial Bank also had a bad week after Butterfield Bank said it was no longer interested in buying it. Its common shares dropped 50 cents or 5.26 percent to $9 on volume of 4,000 shares while its warrants declined 20 cents to $1 as 10,000 changed hands.

Butterfield also fell, dropping 25 cents to $56 after an up and down week. A total of 7,710 shares changed hands. And Bermuda Aviation Serves also lost ground, falling 35 cents or 5.3 percent to close at $6.25 on volume of 5,080 shares.

Trading unchanged were: Devonshire Industries at $14.80 on volume of 100, Kentucky Fried Chicken at $6 on volume of 200, Argus, $13 on volume of 6,200, BF&M, $18 on volume of 3,900 and KeyTech, $15.55 on volume of 10,000.

A total of 49,490 shares worth $875,146.50 traded during the week.