the Bermuda Stock Exchange Index up 2.29 points to close at 1,167.43 in moderate trading.

Telco's increase in value offset a 25 cent drop in Bank of Butterfield shares, which closed at $28.25 on volume of 614.

Trading unchanged were the Bank of Bermuda, which closed at $23 on a volume of 5,775, and Bermuda Commercial Bank, which closed at $97 on a volume of 2,333.

Also unchanged was Belco, which closed at $20 on a volume of 432.