S&P to add City Holding to SmallCap 600 index

AP News
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Posted: Nov 18, 2009 6:47 PM

Standard & Poor's said Wednesday it will add City Holding Co. to its SmallCap 600 index to replace Tween Brands Inc. on a yet-to-be-determined date.

Another S&P SmallCap 600 index company, The Dress Barn Inc., is buying Tween Brands in a deal that is expected to close soon. S&P said it would monitor the transaction and post changes to its Web site.

City Holding, based in Charleston, W. Va., will be added to the index's regional banks sub-index.

Shares of City Holding rose 53 cents to $31.90 in after-hours trading Wednesday after closing at $31.37, up 38 cents from a day earlier. Stocks often rise after they are added to major indices because they are bought up by managers of investment funds that track those benchmarks.

Tween Brands shares rose 3 cents to close at $9.97.