Arch joins S&P 500
Created: Nov 07, 2022 07:36 AM
Arch Capital Group, the Bermudian-based re/insurer, has joined the Standard and Poor’s 500.
The company replaced the social media platform Twitter, recently acquired by entrepreneur Elon Musk.
Shares of the insurance company rose more than 8 per cent Friday morning at $55.83.
The S&P 500 is a stock market index that includes 500 leading companies and covers approximately 80 per cent of available market capitalisation.
It is widely regarded as the best single gauge of large-cap US equities.
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Published November 07, 2022 at 7:36 am (Updated November 07, 2022 at 7:36 am)
Arch joins S&P 500
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