Buffett-led Berkshire Hathaway to join S&P 500 index



Buffett-led Berkshire Hathaway to join S&P 500 index New York: Legendary investor Warren Buffett- led Berkshire Hathaway will replace Burlington Northern Santa Fe in two of index provider Standard and Poor's bellwether indices -- S&P 500 and S&P 100.

The replacement is taking place due to Berkshire Hathaway's acquisition of Burlington Northern Santa Fe in a deal expected to close next month, S&P said in a statement.

"Berkshire Hathaway Inc will replace Burlington Northern Santa Fe Corp in the S&P 100 and S&P 500 indices on a date to be announced," the statement said.

Berkshire Hathaway, primarily engaged in the property and casualty insurance and reinsurance business, would be added to the S&P 500 GICS (Global Industry Classification Standard) Property & Casualty Insurance Sub-Industry index.

The S&P 500 index, regarded as one of best gauge of large cap US equities, includes 500 major companies in leading industries of the economy, capturing 75 per cent coverage of US equities.

PTI