The Royal Gazette/Bermuda Stock Exchange Index ended the pre-Christmas week on a all-time high as continued interest in the future of the Bank of Butterfield continued to send its shares sky-high.

The Index closed a short trading day on Wednesday at 2,913.31, another all-time high, as the Bank of Butterfield recovered to its all-time high of $42.50 after slipping earlier in the week.

Interest in the Bank of Butterfield has been sparked by the proposed sale of the Bank of Bermuda for a total of $45 a share.

Investors, either anticipating that Butterfield will be sold as well, or looking for a similar investment once the Bank of Bermuda is sold to HSBC Plc, have been bidding up its price since the sale was announced.

For the week, Butterfield shares rose 50 cents to $52.50 on volume of 4,575 shares.

Since the Bank of Bermuda sale was announced on October 28, Butterfield shares have soared, rising $4 to $39.50 the week the sale was announced and gaining strength since. Investors who bought the shares at its 52-week low of $30.50 will have seen their investment improve by 39.5 percent since.

In other trading, BF&M Ltd. shares jumped 13.21 percent or $1.40 to close at a 52-week high of $12 on volume of 200 shares, while Bermuda Container Line rose 5.26 percent or 50 cents to a 52-week high of $10 on volume of just 100 shares.

For the week, the Index saw low volume of 5,375 shares worth $209,702.5.