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11.07.2008 - US mortgage firms' shares slump

Shares in US mortgage firms Freddie Mac and Fannie Mae have fallen by more than 40% in early trading amid concerns for the future of the companies.

The Czech Republic news are represented by www.karlovy-vary-czech-republic.com


Investors are concerned that the government may have to step in to rescue them, a move Labour Ministry to swap its shares in PRE for stake in CEZ ...
No Clear Favorite in Sweden versus Russia Battle ...
Strong take-up for RBS cash call ...
Former EADS boss faces fraud investigators ...
No pick-up for US housing market ...
Ex-Fannie Mae bosses fined ...
that would wipe out the value of existing shares.
However, this week their regulator said they were "adequately capitalised".
The companies are behind half of all US mortgages and have been hard hit by the slowdown in the housing market.
Freddie Mac shares fell $4.03, or 50%, to $3.97, at the start of trading. Shares of Fannie Mae fell $6.09, or 46%, to $7.11.













(BBC)


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