down almost 12 points or one percent to 1162.89 in light trading.

Butterfield, which lost $1.25 on Wednesday, closed at $31.25 on volume of 2,477 shares.

The loss offset gains by Watlington Waterworks, which shot up $1 on volume of just 25 shares to close at $12, and Telco was up 12.5 cents to $38.125 on volume of 100.

In the only other trade of the day, Bank of Bermuda was unchanged at $22.50 on volume of 2120 shares.

A total of 4,722 shares were traded for a value of $130,132.