The Royal Gazette/Bermuda Stock Exchange Index ended the short Cup Match week strongly on Wednesday as the Bank of Butterfield surged ahead ten percent for the week.

The Index closed up 42 points or 1.66 percent to close at 2,538.90 on volume of 48,513 shares worth $995,797.25.

Three issues advanced and two declined.

Bank of Butterfield led all gainers, jumping $3.50 or 10.14 percent to close at a record high of $38 on volume of 8,801 shares in the wake of the release of strong results.

Bermuda Commercial Bank rose 25 cents to close at $6.75 on volume of 300 while Belco Holdings gained $1 to close at $34 on volume of 11,600 shares.

Bank of Bermuda fell $1.25 or 3.4 percent to close at $45.50 on volume of 6,600 shares while Bermuda Press (Holdings) Ltd., the owners of The Royal Gazette slumped $2 or 13.33 percent to close at $13 on volume of 812 shares.