SOCIAL network Facebook will join the S&P 500 index at close of trading on 20 December. It will replace Teradyne, a technology company.
Facebook shares rose nearly four per cent in after-hours trading as a result of the announcement, which comes 19 months after the company started trading on the Nasdaq Stock Market.
Shares in the company are up 86 per cent this year, closing at $49.38 yesterday. The S&P 500 listing is expected to further boost shares.