The Royal Gazette/Bermuda Stock Exchange Index yesterday hit a new all-time high after Bank of Butterfield once again reached its 52-week high of $40.

The index inched past the previous all time high by 1.8 points, set on April 29, 2002 when the index of shares sold in the Bermuda market hit 2855.082.

The bank's stock, the only share to trade, rose 75 cents to close at $40.00 after 12,245 shares changed hands, pushing the company's market capitalisation nearer the billion dollar mark at $940,665,680.

The index closed up 46 points or 1.64 percent at 2,856.91 on a volume of 12,245 shares worth $486,073.50. No bonds traded.