The Royal Gazette / Bermuda Stock Exchange (BSX) dipped 1.25 percent yesterday as shares of Butterfield Bank Ltd. and Belco Holdings Ltd. fell.

The vast majority of the day’s trading was concentrated on Butterfield Bank. A total of 11,921 shares changed hands, as the Bank lost 50 cents (0.9 percent) to close on $58.

The Bank had an eventful week, announcing record profits of $134.1 million for 2006 and then declaring the election of Brian Duperreault as chairman on the retirement of Dr. James King.

Belco shares fell $2 (8 percent) to close on $23 after 430 shares traded.

All other issues were unchanged. The only others to trade were Bermuda Commercial Bank Ltd. (25 shares) and Bermuda Aviation Services Ltd. (10 shares).

The Index closed down by 63.42 points on 5,024.43. Volume of shares traded was 12,386 and turnover was $701,608.50.