stocks lost ground across the board.

The Index closed down 6.96 points to close at 1,094.37 on volume of 3,983.

The Bank of Bermuda, trading at $19.50 on a volume of 363 and the Bank of Butterfield trading at $12.75 on a volume of 1,000 were both down 12.5 cents.

The Bermuda Commercial Bank on a volume of 1,200 fell 75 cents to $10.50 after dropping 62.5 cents on Tuesday.

Only two other issues traded, both at unchanged prices. BF&M 9% preference shares closed at $9.50 on a volume of 1,400 and Bermuda Press (Holdings) Ltd.

-- which announced sharply improved profits on Tuesday -- held at $8 on volume of just 20.

The value of shares traded was $46,389. Bonds remained inactive.

Chart -- Page 18