Bunge Ltd.’s shares climbed 14% in the biggest one-day gain since May 2017 after the S&P Dow Jones Indices announced that the company will replace Signature Bank in the S&P 500, according to Bloomberg. The move was effective prior to the opening of trading on Wednesday, March 15.
The Federal Deposit Insurance Corporation (FDIC) announced that it has taken Signature Bank into FDIC Receivership, and therefore Signature Bank is no longer eligible for inclusion.