Twitter's share price is rising pre-market, as it's added to S&P 500 index

Twitter’s share price rose 4.1 per cent this morning, more than three hours before the market opens in New York.

The S&P Dow Jones Indices said in a statement late last night that Twitter will be added to the S&P 500 index on June 7, replacing Monsanto as its $63m (£47.1m) deal with Bayer AG heads to a final close.

The company’s shares are up 58 per cent for the year, compared with a 2.7 per cent rise in the S&P 500.

Twitter posted its second consecutive quarterly profit in April, with analysts taking the results as a positive sign of progress after the social media giant struggled following its flotation in 2013.

Netflix is also set to replace Monsanto on the S&P 100 index, which saw its shares rise 0.2 per cent after markets closed in New York last night.

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