Erie Indemnity gains on inclusion in the S&P 500 index

Bio-Rad Laboratories

09/09/2024 13:44

** Property and casualty insurer Erie Indemnity's  ERIE.O 
shares rise ~3.4% to $523.50 premarket 
    ** S&P Dow Jones Indices late on Friday said ERIE to join
the benchmark S&P 500  .SPX  index, effective prior to the open
of trading on Sept. 23
    ** Inclusion typically spells good news for stocks as fund
managers and exchange-traded funds tracking the S&P 500 buy
shares to match the underlying index 
    ** S&P DJI said ERIE replaces Bio-Rad Laboratories  BIO.N 
in the S&P 500, which tracks the performance of large-cap firms 
    ** ERIE has a market cap of $26.47 billion, while BIO has a
market value of $9.18 billion, according to LSEG data 
    ** As of last close, ERIE up ~51% YTD; BIO up ~2% over the
same period 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))