-- spurred on mainly by a flurry of buying and selling Bank of Butterfield shares.

Over 270,000 shares in the bank traded hands, but failed to push the price up about $17.50. The bid price was $17 and the asking price $18.75.

Bank of Bermuda shares fell $2.00, or 7 percent, to close at $28.00 while BF&M shares rose once again to $7.50.

The only other change was in BELCO shares which dropped $3.50 to set a new 52 week low at $17.50.

The index closed down 55.186 points at 1,452.13 on a volume of 296,349 shares worth $5,232,867.05.