February 29, 2008 / 1:13 PM / 10 years ago

Ambac shares drop, Assured Guaranty shares jump

NEW YORK (Reuters) - Shares of Ambac Financial Group Inc ABK.N fell 8.5 percent to $10.80 in trading before the opening bell on Friday, after CNBC reported the bailout for the bond insurer has hit a significant snag.

    Meanwhile, shares of Assured Guaranty Ltd (AGO.N) surged about 16 percent to $26.40 after billionaire investor Wilbur Ross agreed to buy up to $1 billion in shares of the bond insurer.

    Reporting by Kristina Cooke, editing by Walker Simon

    0 : 0
    • narrow-browser-and-phone
    • medium-browser-and-portrait-tablet
    • landscape-tablet
    • medium-wide-browser
    • wide-browser-and-larger
    • medium-browser-and-landscape-tablet
    • medium-wide-browser-and-larger
    • above-phone
    • portrait-tablet-and-above
    • above-portrait-tablet
    • landscape-tablet-and-above
    • landscape-tablet-and-medium-wide-browser
    • portrait-tablet-and-below
    • landscape-tablet-and-below