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LOCAL UPDATE The Bermuda Stock Exchange gained 5.58 points or .55 percent to close at 1,027.30 yesterday.

Bank of Butterfield gained 25 cents to close at $12.25 on volume of 732.Bermuda Aviation Services closed down 12.5 cents at $2.125 on volume of 23,380.

Bank of Butterfield gained 25 cents to close at $12.25 on volume of 732.

Bermuda Aviation Services closed down 12.5 cents at $2.125 on volume of 23,380.

Telco closed unchanged at $35.25 on volume of 500.

Share volume was 24,612 with a value of $76,399.50.

Bermuda Press Holdings declared a dividend of 12 cents per share to shareholders of record July 5 payable July 14.