The Royal Gazette/Bermuda Stock Exchange index gained 57.782 points or 2.38 percent last week to close at 2,430.22. A total of 160,654 shares worth $6,728,623 were traded.

Banks led the rally as The Bank of Bermuda gained $1.50 or 3.45 percent to close at $45 on volume of 142,766. The Bank of Butterfield gained 15 cents or 0.53 percent to close at $28.25 on volume of 7,950.

All three issues in the insurance sector saw action during the week, but all three remained unchanged at the end of the week.

Argus Insurance Co. saw 1,010 shares traded to end the week at $21.50, BF&M ended the week at $8.25 after 450 shares were traded, and BF&M warrants remained at $12.25 despite 5,200 being traded.

The only other action last week was in the utilities sector as Belco Holdings gained $1 or 3.7 percent to close at $28 on volume of 1,432 and KeyTech Ltd. gained $3 or 7.32 percent to close at $44 after 133 shares were traded.

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