The Royal Gazette/BSX Index edged higher last week, despite some stocks taking hefty falls.

The Index closed at 2,038.28, up 49.42 points, or 2.42 per cent.

Butterfield Bank improved by $1.50, or 4.6 per cent, to close at $34 after 9,279 shares traded.

On the New York Stock Exchange the bank’s shares ended the week at $34.91.

Meanwhile, on the local exchange, One Communications was up six cents, or 2.9 per cent, to $2.11 after 78,334 shares changed hands.

The biggest loser of the week was Bermuda Aviation Services, which dropped $1.25, or 41.7 per cent, to $1.75 after 9,000 shares traded.

Also falling was Ascendant Group, the parent of Belco, with shares losing $1.24, or 14.2 per cent to close at $7.51 after 1,900 were exchanged.

Shares of Devonshire Industries Ltd lost 25 cents, or 4.5 per cent, to close at $4.45 after 4,500 traded, while Argus Group dropped five cents, or 1.1 per cent, to finish the week at $4.45 after 4,500 shares changed hands.

HSBC Bermuda shares were down 10 cents, or 1.14 per cent, at $8.65 after 6,173 traded.

The BSX Insurance was up 13.05 points, or 0.68 per cent, for the week at 1,920.31.