NYSE, Titanium Metals to Join S&P 500

Shares jump in after-hours trading.
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NYSE-Euronext (NYX) and Titanium Metals (TIE) will join the S&P 500 index, Standard & Poor's said Thursday.

NYSE will replace

Hilton Hotels

(HLT) - Get Report

, which is set to be acquired by

Blackstone Group

(BX) - Get Report

. The change is effective Oct. 24.

The New York-based exchange operator also will replace retailer

Limited Brands

(LTD)

in the S&P 100. Limited Brands, with a market capitalization of $7.9 billion, ranks 100th in the index.

The news sent NYSE shares climbing $4.16, or 5%, to $86.80 in after-hours trading. Stocks added to the S&P 500 frequently get a boost because many mutual funds track the index and will buy the stock.

For its part, Titanium Metals will be added to the index at a to-be-determined date. The metals producer will replace

Bausch & Lomb

(BOL)

once the eyecare concern's planned buyout by Warburg Pincus closes.

Shares of Dallas-based Titanium Metals were jumping $2.18, or 6.9%, to $33.90 after-hours.