Butterfield Bank and BF&M Ltd. pared some of their strong gains this week as local stocks fell in yesterday's trading on the Bermuda Stock Exchange (BSX).

Butterfield, which rocketed from $1.50 to $1.75 in the space of two days this week, lost five cents, or 2.9 percent yesterday, to end the week on $1.70, as 2,200 shares traded.

Twenty-two of the bank's eight percent preference shares also traded, as the price remained unchanged on $1,200.

Insurer BF&M Ltd. slipped back 25 cents, or 1.9 percent, to close the day on $12.75 as more than 62,000 shares traded.

Ascendant Group Ltd. was the only climber on the BSX, gaining 20 cents, or 1.4 percent, to close on $14, as 300 of its shares were exchanged. The Royal Gazette / BSX Index fell 23.91 points, or 1.7 percent, to close on 1,370.4. Volume was 64,539 shares and turnover topped $825,000.

The BSX Insurance Index of the Island's leading international insurance companies fell one point, or 0.1 percent, to close on 909 points.