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Fannie, Freddie shares rise before open on House vote

NEW YORK
Thu Jul 24, 2008 6:07pm EDT
Traders work on the floor of the New York Stock Echange July 14, 2008. REUTERS/Brendan McDermid

Traders work on the floor of the New York Stock Echange July 14, 2008.

Credit: Reuters/Brendan McDermid

NEW YORK (Reuters) - Shares of mortgage finance companies Fannie Mae and Freddie Mac rose more than 5 percent before the bell on Thursday after the House of Representatives passed a housing rescue plan a day earlier.

Fannie shares rose 6.7 percent to $16 after closing on Wednesday at $15. Freddie shares were up 5.1 percent at $11.35. They closed Wednesday at $10.80.

(Reporting by Steven C. Johnson; Editing by Kenneth Barry)


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