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BERMUDA | RSS PODCAST

Stock market continues to boom

rocketed another 24.88 yesterday to close at 922.36 -- its third consecutive all-time record high and the first time it has passed the 900 mark.

Not one of the eight companies whose shares were traded suffered a drop in value.

Over half of the day's $824,052 total value of shares traded came in the Bank of Bermuda's common stock, which climbed 75 cents to $37.50, with a volume of 12,618.

It will surprise no-one, however, that there was an even bigger rise in Bank of Butterfield stock, which went up by $1 to $25 per share, although the volume was modest at 415.

Butterfield's stock has now gone up by an astonishing 82 percent during 1992.

The largest jump on the Exchange, though, was surprising; coming in the previously lethargic stock of Bermuda Commercial Bank, which has just announced healthy profits after shedding its loss-making retail business.

BCB's stock climbed by $1.75 to a 1992 high of $7, although the volume was small at 150.

BF&M Ltd.'s common stock rose by 50 cents to $8, with a volume of 1,300, while the firm's eight percent preference shares also went up by 50 cents to close at $12.50.

Bermuda Telephone Company was up by 50 cents to $30, with a volume of 914, while the other utilities firm, Bermuda Electric Light Company, rose by 25 cents to $17.50, with a volume of 7,500.

Argus Insurance, whose stock has been significantly undervalued for most of the year, continued its recent climb, up by another 25 cents to $11.25, with a volume of 389.

The only other trading was in Devonshire Industries, whose shares climbed a modest one-eighth of a dollar to 9.875, with a volume of just 100.