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S&P Adding FMC To S&P 500, Replacing Centex

NEW YORK (AP) ¿ Standard & Poors said on Tuesday it will add chemicals maker FMC Corp. to its S&P 500 index, replacing Centex Corp.

Centex, a Dallas-based homebuilder, is being acquired by Pulte Homes Inc., and shareholders are expected to vote on the deal Aug. 18. S&P said the index change would happen after the close of trading that day.

Philadelphia-based FMC had been in the S&P MidCap 400 index. It will be replaced by Informatica Corp., a Redwood City, Calif.-based software maker.

Shares of companies added to the S&P 500 often rise, since many investment portfolios are linked to the index. FMC shares rose $1.75, or 3.5 percent, to $51.50 in late trading after Standard & Poors made the announcement. Informatica shares rose 16 cents to $19.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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