Butterfield Bank shares rose 3.5 percent last week to lead the local stock market higher.

The bank gained five cents to close the week on $1.47, as 35,200 shares changed hands. Butterfield’s preference shares also traded, but remained unchanged on $1,182.

During the five days of trading The Royal Gazette / Bermuda Stock Exchange Index gained 20.51 points, or 1.73 percent, to close the week on 1,182.13.

Insurer BF&M Ltd was the only domestic-board issuer to fall, slipping 45 cents, or 2.6 percent to $17 on the trading of 2,200 shares, during the week that the company announced its net income was up by 15 percent during the first nine months of this year compared to the same period last year.