The Royal Gazette/Bermuda Stock Exchange Index yesterday gained 87.55 points to close at 2,741.67.

Bank of Bermuda saw 500 of its shares change hands although investors did not react to the news yesterday that the bank could be taken over by multinational bank HSBC yesterday, leaving the share price at $38.50.

On the Nasdaq, where the Bank of Bermuda has a secondary listing, the bank's shares closed up $4.89, or 12.2 percent, to a 52-week high of $44.89.

Meanwhile, Bank of NT Butterfield shares gained $2.75 with trading of 10,823 shares that shot up $2.75 to $38.25.

LOM Holdings also saw significant trading yesterday with movement of 20,000 shares and its stock gaining 80 cents to $3.

In the insurance sector, BF&M traded 16,700 shares while Argus saw 105 shares move.

Electric light company Belco saw 200 shares change hands and a closing price of $34.50 while KeyTech - the parent company of BTC, Mobility and Logic Communications - gained 25 cents on trading of 6,714 shares.