the Bermuda Exchange continued to recover.

The Exchange Index closed up 0.04 points at 1135.95 on the strength of the Commercial Bank trade, in which 1888 shares were exchanged.

The increase offset a drop in Telco shares, which fell 25 cents to $38.50 on volume of 1000 shares.

Trading elsewhere was active, but no price changes were recorded among: Bank of Bermuda, $20 on volume of 1244 shares; Belco, $21, 1000; and BF&M, $6.50, 150.