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UnitedHealth Replaces Kraft in Dow Jones Industrial Average

UnitedHealth Group Inc. will replace Kraft Foods Inc. in the Dow Jones Industrial Average, the first change to the 116-year-old stock benchmark since 2009.

Kraft, the world’s second-largest food company, will be removed from the Dow average after deciding to spin off its North American grocery business, according to S&P Dow Jones Indices. UnitedHealth, the biggest U.S. health insurer, was chosen because it represents the growing importance of health-care spending to the U.S. economy, according to the index provider. The change goes into effect at the open of trading on Sept. 24, S&P Dow Jones Indices said.