1,180.65. The stocks of three companies fell and there was not a single upward movement.

Bank of Bermuda dropped by 50 cents to $22 on volume of 379, Bermuda Commercial Bank fell by 50 cents to $10.50 on volume of 1,000, and Telco fell by 25 cents to $39.25 on volume of 2,500.

On its first day on the Exchange, trading worth $96,800 -- at $8 a share -- was carried out in the shares of Bermuda Financial Centre Ltd., which plans to redevelop the site of the Bermudiana Hotel.

Trading unchanged was the Bank of Butterfield, which closed at $32 on volume of 505.