LyondellBasell to Replace Sears in S&P 500

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 [e-mail]

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