Morning Markets: Fannie and Freddie send S&P up, oil & gas still main FTSE drivers

Oil and gas were prime leaders as a sector in the S&P 500 yesterday, which was up 10.15, with the ma...

Oil and gas were prime leaders as a sector in the S&P 500 yesterday, which was up 10.15, with the market opening at 1271.29 points. But the main movers, as expected, were Fannie Mae and Freddie Mac, driving the index up with their respective share hikes of 19.6% and 15.3%. Fannie has made a bid to reassure confidence in its precarious future by reassigning a number of senior management. Stephen Swad, CFO, who will be replaced by David Hisey, head of capital markets Peter Niculescu will replace Robert Levin as chief business officer and Enrico Dallavecchia, the company's chief risk off...