Stocks give up early gains to end lower

June 2, 2017

Stocks gave back early gains Friday as reports of higher casualties in an attack by a gunman at Resorts World filtered in. The Philippine Stock Exchange Index closed 19.83 points down to 7,907.66 after the barometer advanced during early trading. Gaming stocks, especially Travellers International, which owns Resorts World, declined. Travellers finished flat at P3.40 after falling by as much as 8.8 percent. Melco Resorts and Entertainment (Philippines) Corp, which operates City of Dreams went up 2.85 percent to P10.10. In the broader market, there were 127 gainers, 82 decliners and 49 issues unchanged. The peso strengthened by 20 centavos to P49.55. Volume rose to $908 million from $325.8 million at the Philippine Dealing System. DMS