Search Engine Optimisation, Promotion and Internet Marketing

Shares boosted by Google and Apple performance

24 May 2005

Google shares rose by a record 5.7 per cent on Monday as rumours circulated that the search giant is about be added to the Standard & Poor's 500 index.

The shares surged to $255.45 and Google stock has grown 11 per cent in the past week. Calls have mounted to add the search firm to the S&P index, as the company's stock has performed strongly since last year's stock market float.

The S&P 500 is watched closely by market analysts as many investors are only allowed to put money into companies listed in key indexes. The S&P 500 tracks the biggest companies in the US and members must have a market capitalisation of more than $4 billion (£2.2 billion) and at least 50 per cent of its shares available to be traded.

Apple shares also soared 5.9 per cent yesterday after the Wall Street Journal reported it is in talks to use Intel chips in its machines, enabling it to reduce costs and produce cheaper models.

However, the report added that the talks could still break down and both Intel and Apple have refused to comment on the rumours. Apple's stock closed at $39.76 on Monday.

Technology stocks were the best performers on Wall Street on Monday, according to the BBC.

Google has a market value of almost $71 billion and 64 per cent of shares in the market.

Standard & Poor's has declined to comment on the Google speculation.

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