: Bunge to replace Signature Bank in S&P 500, stock rallies 7%


Shares of Bunge Ltd. BG, -1.25% rallied in the extended session Monday after S&P Indices said Bunge would replace the failed Signature Bank in the S&P 500 index. SPX, -0.15% The change is effective before the bell Wednesday. Last Friday, the index manager said that Insulet Corp.  PODD, +8.23% was replacing Silicon Valley Bank parent SVB Financial Group in the index after Silicon Valley Bank was shut down on Friday by regulators. Crypto-friendly Signature Bank was shut down on Sunday. Bunge is an agribusiness and food company headquartered in St. Louis. It has a market cap of about $14 billion.

This article was originally published by Marketwatch.com. Read the original article here.

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