Google added to S&P 500 index

March 24, 2006 at 10:32 AM

NEW YORK, March 24 (UPI) -- Google will be added to Standard & Poor's key index, the credit raters said.

The Internet search engine's stock will be added to the S&P 500 index, a benchmark index not only for U.S. equities, but for bourses across the globe.

Analysts expect that its addition to the venerable index will trigger a sharp rise in demand for Google shares, at least in the near-term, even though the company had been disappointing investors over the past few weeks.

Google will be joining the index on March 31 by replacing energy group Burlington Resources.

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