Melco Crown Entertainment Rebounds After No Change In ATM Withdrawal Limits

Melco Crown Entertainment Ltd (ADR) MPEL shares are trading higher by $0.58 at $17.45 in Friday's session. The issue swooned late in the day on Thursday when it was reported that withdrawal limits in Macau may be reduced by the government.

As a result, the issue fell from its close on Wednesday ($19.55) to end Thursday's session at $16.87.

Upon the clarification that there was no change in the withdrawal limits before the open, the issue responded with a higher open. However, it rallied only another $0.16 to $18.40 before falling back into the mid $17 handle.

At last check, shares were up 1.66 percent at $17.15.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsTechnicalsMoversTrading IdeascasinosChinagamblinggaminggaming industrygaming stocksmacaoMacau
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!