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Local Update

Stock Exchange on Friday, closing at $11 on a volume of 1,000. BCB's shares have now risen by $4 since oil magnate Mr. John Deuss bought a 32 percent stake on May 10, 1993. The Exchange Index, though, fell by 4.49 to 1,155.90 as the Bank of Bermuda dropped by 25 cents to $22.75 on a volume of 555.

In the day's only other trades, Bank of Butterfield shares traded unchanged at $28 on a volume of 1,000, and BF&M nine percent preference stock was also unchanged at $12 on a volume of 11,500 -- the highest volume of the day.

Shares and bonds worth $793,189 were traded during last week.