GM Will Return to S&P 500 Index

Standard & Poor's says General Motors Co. will rejoin the benchmark S&P 500 index after the close of trading on Thursday.

The automaker will replace H.J. Heinz Co., whose acquisition by a consortium that includes Warren Buffett's Berkshire Hathaway Inc. is due to be completed by Friday. GM also will take Heinz's spot in the S&P 100 index.

The company left the S&P 500 four years ago when it was on the verge of filing for bankruptcy. Its return is expected to prompt managers of index funds that track the S&P 500 to buy GM stock.

The company's shares touched a 27-month high of $35.49 on Tuesday before closing $34.96, up 1.6% for the day.