Business

Market Movers

Delta surges on news it’s joining S&P 500

Over 52 weeks, Delta stock ranged from $8.89 to $22.05.

Scott Olson/Getty Images/File 2012

Over 52 weeks, Delta stock ranged from $8.89 to $22.05.

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Delta Air Lines jumped 9.4 percent following news that the Atlanta-based company will be added to the S&P 500 index. That benefits Delta because mutual funds and other investors that track the S&P 500 will now have to buy Delta’s stock. A JPMorgan analyst, Jamie Baker, estimated that inclusion in the index will create demand for almost 89 million Delta shares. Delta replaces BMC Software Inc. on the index; it’s soon to be acquired by Bain Capital LLC.

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