Block's ASX shares jump after S&P Dow Jones says co to join S&P 500

ASX-listed shares of Block XYZ.AX rise as much as 11.7% to A$122.59, their highest level since February 21

Stock logs biggest pct gain since April 10; among top performers on the ASX 200 benchmark

S&P 500 Dow Jones Indices says financial tech firm to replace Hess in S&P 500 from July 23

About 317,697 shares change hands, 1.4x vs the 30-day average

Stock last up 10.7% for the day, however, down 13.8% YTD