Technology

Twitter shares soar as the company is set to join S&P 500

Social media giant Twitter Inc. is set to join the United States benchmark index S&P 500, Associated Press reported after markets in US closed. Twitter shares jumped in after-hours trading, rising almost 5%, after ending the previous session 3.36% higher.

The tech company will replace agrochemical and agricultural biotechnology corporation Monsanto, which is leaving the S&P 500 as it is to be acquired by the pharmaceutics company Bayer AG.

The change will come into effect before trading starts on Thursday. Bayer’s acquisition of Monsanto Co. is expected to close on June 7.

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