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NEW YORK (MarketWatch) — Shares of Ambac surged 20% at the open Friday, while
rival MBIA Inc. rose 9.5% as Standard & Poor’s affirmed its AA ratings on both
bond insurers. Lehman Brothers shares also gained 5.8% in early action after a
regulatory disclosure Thursday showed billionaire George Soro’s hedge fund had
significantly raised its stake in the firm. The Financial Select Sector SPDR was
up marginally 0.8%, while the Amex Securities Broker/Dealer Index was also up
1.8%.

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