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MBIA Shares Rise After JPMorgan Drops Suit Over Split

MBIA Inc. shares surged after JPMorgan Chase Bank NA and Barclay’s Bank Plc said they are withdrawing from a lawsuit over the company’s decision to split its insurance unit in two.

The bond insurer’s stock rose 8.8 percent to $10.36, the most in the Russell 1000 Index today and its biggest gain since Oct. 14.