Derrick
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From AFP:
Brazil’s state-controlled oil company Petrobras has overtaken Microsoft to become the third-biggest company in the Americas in terms of stock market capitalisation, a Brazilian research firm said on Tuesday.
Petrobras, which is riding high on vast new oil discoveries off Brazil’s southeast coast, has a market value of $287.2 billion, according to Economatica.
Microsoft, by comparison, is worth $279.3 billion.
The top two places are taken by US oil giant Exxon Mobil, with a market capitalisation of 489.6 billion dollars, and US conglomerate General Electric, worth $320.2 billion.
Petrobras’ shares have risen 110 percent in the past year, while Microsoft’s have receded 3.5%.
Brazil’s oil group announced in April it had found what could be one of the biggest petroleum fields in the world, containing up to 33 billion barrels of oil.
Other Brazilian companies are also doing well.
Vale, a mining titan, is ranked as the ninth-biggest company in the Americas with a capitalisation of $169.4 billion, and the bank Bradesco comes 43rd.
All the other top 50 firms on the list are from the United States, except the Mexican telephone operator America Movil, which is ranked 29th with a capitalisation of $99 billion.
Brazil’s state-controlled oil company Petrobras has overtaken Microsoft to become the third-biggest company in the Americas in terms of stock market capitalisation, a Brazilian research firm said on Tuesday.
Petrobras, which is riding high on vast new oil discoveries off Brazil’s southeast coast, has a market value of $287.2 billion, according to Economatica.
Microsoft, by comparison, is worth $279.3 billion.
The top two places are taken by US oil giant Exxon Mobil, with a market capitalisation of 489.6 billion dollars, and US conglomerate General Electric, worth $320.2 billion.
Petrobras’ shares have risen 110 percent in the past year, while Microsoft’s have receded 3.5%.
Brazil’s oil group announced in April it had found what could be one of the biggest petroleum fields in the world, containing up to 33 billion barrels of oil.
Other Brazilian companies are also doing well.
Vale, a mining titan, is ranked as the ninth-biggest company in the Americas with a capitalisation of $169.4 billion, and the bank Bradesco comes 43rd.
All the other top 50 firms on the list are from the United States, except the Mexican telephone operator America Movil, which is ranked 29th with a capitalisation of $99 billion.