the week to close at 1,462.18 on a volume of 12,329 shares valued at $166,815.

There were only two gainers. Argus Insurance gained 75 cents to close at $17.75. Belco Holdings gained 50 cents to $22.

The Bermuda Stock Exchange index closed on Thursday unchanged at 1,462.18 on a volume of 75 shares. Only 75 shares of the Bank of Bermuda traded unchanged at $32. The Exchange closed for the Christmas holidays at 1 p.m. and will re-open tomorrow.