Shares of The Phoenix Cos. were up more than 40 percent in morning trading today, more than erasing a 31 percent decline on Thursday, as the stock market rebounded from a horrendous opening.
The Hartford-based insurer’s stock rose $1.40, or 43 percent, to $4.65 at 10:10 a.m.
Many banking companies with major Connecticut operations, including Bank of America, Webster Financial and People’s United Financial were trading in positive territory on hopes the federal government would use money from the $700 billion bailout fund to boost capital in certain commercial banks.
