In a remarkable week on the Bermuda Stock Exchange, the index gained 45 points to reach a new all-time high of 2,890.21 after Bank of Butterfield's stock rose steadily, breaking record after record.

Bank of Butterfield stock gained $1.50 or 3.7 percent to finish at $42.00, taking the company's market capitalisation nearly to the $1 billion mark.

Bermuda Commercial Bank gained 65 cents to finish at $7.30 while LOM Holdings gained 10 cents to close at $2.90.

Bermuda Press Holdings, the owners of The Royal Gazette, rose 50 cents to close at $12.50. Belco and KeyTech both gained 25 cents to close at $35 and $10.50 respectively. Watlington Waterworks gained $1 to finish at $6.50.

The index closed up 45.157 points or 1.56 percent on a volume of 93,015 shares worth $1,253,999.50.