For the Second Day, AIG Surges the Most in the SP500

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For the Second Day, AIG Surges the Most in the SP500

Published on Wednesday, 10 March 2010 18:12 Written by Christopher Lynn

aig New York, March 10^th (TradersHuddle.com) – Shares of American International Group (NYSE:AIG) surged once again the most in the S&P 500, as shares added 10.59% to $36.24.

American International Group, Inc. (NYSE:AIG) through its subsidiaries provides a varied range of insurance and insurance-related products in the United States and abroad. The Company's main activities include general insurance and life insurance & retirement services operations as well as financial services and asset management. AIG participates in the credit default swaps and mortgage backed securities markets.

AIG rallied for a fifth straight day, its longest streak since August, as Taiwan’s financial regulator will brief lawmakers tomorrow on the conditions needed to allow the troubled insurer to sell its local unit to Primus Financial Holdings Ltd. and China Strategic Holdings Ltd. for more than $2 billion. Shares surged yesterday on speculation that the government was considering to restrict short sales on the companies it's bailed out and currently owns stock in.

AIG has sold already two units increasing investor confidence that the insurer will be able to payback the U.S. taxpayers and other debt obligations.

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