LyondellBasell Industries N.V. (LYB) will replace Sears Holdings
Corp. (SHLD) in the S&P 500 index after the market close on
Sept. 4, S&P Dow Jones Indices LLC said.
The change comes as Sears has been struggling for years and last
year rolled out plans to sell a handful of stores and close more
than 100 others in hopes of turning around a long stretch of
falling same-store sales. S&P Dow Jones Indices, a McGraw-Hill
Cos. (MHP) business, said the retailer was no longer considered
representative of the index. The company's shares were down 3.1%
after hours at $55.68.
Meanwhile, LyondellBasell, which makes chemicals and polymers,
has seen generally improving results after emerging from Chapter 11
bankruptcy in 2010. The company, like others in the chemicals
industry, has benefited from cheap U.S. natural-gas prices. Its
shares were up 4% after hours at $49.20.
-Write to Ben Fox Rubin at ben.rubin@dowjones.com
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