• Most Popular
  • Most Shared

MBIA jumps after deal to reinsure FGIC bonds

NEW YORK
Thu Aug 28, 2008 9:31am EDT

Stocks

   
Traders work on the floor of the New York Stock Exchange August 8, 2008. REUTERS/Joshua Lott

Traders work on the floor of the New York Stock Exchange August 8, 2008.

Credit: Reuters/Joshua Lott

NEW YORK (Reuters) - Shares of MBIA Inc. (MBI.N) jumped before the open on Thursday after the bond insurer agreed in a deal to reinsure $184 billion of municipal bonds backed by its rival FGIC Corp.

Asian Markets

MBIA's stock was up 18 percent at $14.12 a share, its highest level since April.

(Reporting by Richard Leong; Editing by Kenneth Barry)



More from Reuters

Photo

House Democrat says still short on health votes

WASHINGTON (Reuters) - White House officials on Sunday confidently predicted quick final passage of healthcare reform but a top Democratic vote-counter said they still need to line up more support in the House of Representatives.

A home sits for sale in Geneva, Illinois June 23, 2009. REUTERS/Jeff Haynes

"Cash for keys" to buy homes

A hot new loan-selling business is freeing Americans from crushing debt and enticing mortgage investors hungry for a deal.   Full Article 

A passenger stands in front of the main board in the departure hall at Frankfurt airport July 28, 2008.

Paying for the right to choose

It's one thing to have to pay for extra baggage, but no fee irks airline travelers more than this.  Full Article