Fannie, Freddie rise after regaining NYSE compliance

Mortgage finance companies Fannie Mae and Freddie Mac said on Friday the companies have regained compliance with the New York Stock Exchange's requirements for continued listing of their common stock, somewhat reviving their respectability among investors.

Stocks soared on the news, with Fannie Mae (FNM.N) gaining 9.15 percent to $1.79 shortly after the open, and Freddie Mac (FRE.N) rising 7.5 percent at $2.01.

The news comes about 10 months after the companies were notified they had failed to satisfy the NYSE's continued listing criterion when their common stock prices fell below $1.00 during a 30 day period.

Read Full Article from Reuters

- Posted: 2009-09-04 10:13:46

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