The Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) share price has risen 2% to $18.05.
This morning, it was announced that the company would soon be represented in the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) at the expense of other businesses such as Virtus Health Ltd (ASX: VRT), as part of the S&P Dow Jones Indices quarterly rebalance.
Indeed, some funds are mandated to only purchase companies within certain indices, so Soul Patt's inclusion in the index could cause some movement in its share price, at least in the near term.
Washington H. Soul Pattinson and Co is an investment conglomerate with investments in a diverse set of industries, including coal and telecommunications.
The company is due to report is full-year earnings results on 21 September 2017 and will hold its annual general meeting on 8 December.
