yesterday as bank shares fell.

Bank of Bermuda shares led the decline, falling $1.125 to $22.125 on volume of 2,897 shares, as its rights issue for the creation of Bermuda Home took place.

The Exchange Index closed at 1182.24 on volume of 106,756 shares worth $1,136,314.

Bank of Butterfield shares fell 25 cents to $34.25 on volume of just 200 while Commercial Bank shares fell by the same amount to $11.75 on volume of 1059 shares.

Analysts ascribed the falls to a mixture of profit-taking and the Bank of Bermuda's share dividend for Bermuda Home, which the bank said had the effect of dropping the shares' value by 87 cents.

One analyst said sellers currently outnumber buyers on the Exchange due to continued political uncertainty over Independence.

Only BF&M traded up yesterday, gaining 12.5 cents to close at $6.50 on volume of 100.

The day's biggest trade was in BFCL, which was unchanged at $9 on volume of 97,100 -- a trade worth almost $900,000. BFCL is not a component of the Index.

Also trading unchanged were: Devonshire Industries, $10, 400 shares; and Belco, $34.875, 5,000.

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