Utility stocks led the Bermuda Stock Exchange down last week, with the BSX/Royal Gazette Index dropping 3.282 points to 3,146.16 in moderate trading.

Belco fell $1 or 2.38 percent to close at $41 on volume of 2,300 shares, while KeyTech, owner of BTC and Logic, fell by an identical 2.38 percent or 25 cents to close at $10.25 on volume of 2,000 shares.

The declines offset a tent cent gain by BSX bellwether Butterfield Bank, which closed at $40.50 on volume of 17,000 shares.

And BF&M saw 17,800 shares trade as the insurer closed up 50 cents or 3.85 percent at $13.50. Fellow insurer Argus was the only other issuer to trade, closing unchanged at $25 on volume of 800.

A total of 39,600 shares worth $1.05 million traded.

The BSX Insurance Index traded down 4.65 percent at 986.43 on Friday. Details for the week were unavailable.