Three Swiss among the world’s 100 most valuable companies
Published: Tuesday, Jul 2nd 2024, 11:00
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Tech rules - Technology companies are the undisputed leaders in the ranking of the world's most highly valued listed companies. The AI boom in particular gave the sector a new boost. But three well-known Swiss companies also made it into the top 100.
According to an EY analysis published on Tuesday, the triumvirate that has been battling it out for first to third place for some time is Microsoft, followed by Apple and chip manufacturer Nvidia. The cut-off date for the survey was June 28.
According to EY, the total stock market value of the 100 most expensive companies has reached a new high of 42.3 trillion US dollars. The global top 100 include 26 companies from the technology sector, 60 of the 100 most expensive companies are based in the USA.
But with Nestlé, Roche and Novartis, three Swiss companies also make it into the ranking. However, they had to drop a few places. The food company slipped to 36th place from 24th at the start of 2024. Roche is still in 51st place (previously: 43rd) and Novartis remains in 53rd place.
A total of 19 companies from Europe made it into the top 100, such as the Danish pharmaceutical group Novo Nordisk in 12th place and the German company SAP in 47th place. The remaining 18 companies were in Asia.
Tech boom, especially in the USA
"The majority of the most valuable companies in Europe and Switzerland are not active in the technology sector, so they have not benefited to the same extent from the stock market euphoria for technology stocks triggered by the mega topic of artificial intelligence," says Stefan Rösch-Rütsche, Country Managing Partner of EY in Switzerland.
This has further widened the gap with the USA. In general, Europe's importance on the global stock markets has declined sharply - before the global financial crisis in 2007, the old continent still accounted for 46 of the 100 most expensive companies.
If you extend the ranking to the 500 most expensive companies worldwide, you will find a total of 15 Swiss companies. In addition to the three heavyweights mentioned above, these include the industrial group ABB (rank 150), UBS (rank 169), the luxury goods group Richemont (rank 174) and the insurer Zurich (rank 219). Holcim (rank 365) and Givaudan (rank 430) are further down the list.
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