The Royal Gazette/Bermuda Stock Exchange soared by more than 190 points last week to break through the 3,000 barrier - closing at a record high of 3,160.23.

The huge surge was caused mainly by Bank of Bermuda shares, which are heavily weighted on the exchange, which traded for the first time in months.

While only 900 shares changed hands, the stock rose by $5.50 to finish at $44.

Added to this was a surge in a series of local stocks which helped pushed the exchange upwards.

Bank of Butterfield gained ten cents to close at $44.25 after yo-yoing during the week.

Bermuda Commercial Bank and its warrants closed up $1.75 at $9.25 and ten cents at 70 cents respectively. Belco gained $1.75 and finished at $37.00 while KeyTech rose by 35 cents to finish at $12.05.

The only stock to drop was BCS Investments, which fell by $2 or 20 percent to close at $8.

The index closed up 190.52 points or 6.03 percent on a volume of 60,167 shares worth $1,844,290.