Butterfield's share price improved.

The Exchange Index edged up 2.06 points to close to 1156.26 in moderate trading.

The Bank of Butterfield gained 25 cents to close at $34.25 on volume of 3038 shares.

The increase in Butterfield shares offset a 12.5 cent drop in BF&M, which closed at $6.625 on volume of 1300. Trading unchanged were: Bank of Bermuda, $20.25 on volume of 1723; and Telco, $38.50, 178.

Trading was heavy in preferred notes, with Bank of Bermuda 9% notes gaining 25 cents to close at $107.25 on volume of 2480 units and BF&M 9% preference shares gaining 25 cents to close at $9.25.