A 30 percent surge in the value of Butterfield Bank shares helped The Royal Gazette / Bermuda Stock Exchange (BSX) Index rise for a fourth successive week.

The bank rose $1.20 over the five days of trading to reach $5.20, on the trading of more than 175,000 shares.

The bank is about to launch a $200 million capital raise through a Government-guaranteed sale of preferred stock.

Butterfield's big move helped the BSX Index shoot up 8.7 percent, as it climbed 200.74 points to close the week on 2,304.57.

Insurer BF&M Ltd. was the other domestic company to record a slight gain, rising five cents to $14.10, as 5,000 of its shares changed hands.

Fellow insurer Argus Holdings Ltd. was also traded actively, but ended the week unchanged on $7 after 11,734 shares changed hands.

Energy company Belco Holdings Ltd. was the only local company to lose value last week, falling 45 cents, or 2.8 percent, to close on $15.80.