European companies suffer in market capitalisation field. It has taken four years to get back to pre-financial crisis market capitalisation levels, according to a study carried out by PwC, which has just published its annual list of the biggest market capitalisations carried out in the world. Overall, the 100 biggest companies in the world account for a total market capitalisation amount of $ 13,600 billion, which is comparable to the 2008 level, before the financial crisis ($13,500 billion). The lowest level ($8 400 billion) was in 2009. Reading the list, it appears that the US giants have emerged as the main victors from the crisis. This is not the case for European companies, which have been weakened by the euro's low exchange rate compared to the dollar. US groups therefore dominate the listing while eurozone companies have experienced the steepest falls, with only 14 in the Top 100, as opposed to 43 of their US counterparts. By way of comparison, 26 European groups featured in the 2008 list and 35 US companies. Many of the current major US technological companies have only emerged over the past 20 years, which demonstrates the US's ability to create major players in new sectors, explains PwC. In comparison to the 2008 survey, only 67 companies are still in the current list, 30 have been ousted and 3 have been subject to takeovers (Genentech, Parmalat Brasil and Suez). Technology and consumer services are the sectors that have experienced the best progress in terms of market capitalisation and have achieved respective increases of nearly 35% and 400%. PwC also notes that companies in China and Hong Kong struggle to do well in the rating, despite the growth in the Chinese economy. Only 9 make it into the Top 100 (as opposed to 8, five years ago). PwC points out that they seem to be experiencing more regional than global success. There is no company from the European Union in the Top 10, which is almost exclusively from the US (the Swiss company, Nestlé, has risen to 10th place and the Chinese Petrochina company has fallen from second to fifth place). The top representative from the eurozone is only in 29th place, Anheuser-Busch InBev from Belgium. This is followed by Sanofi from France, which is in 35th place. The US therefore largely dominates in this league table and US companies account for half of all market capitalisation in the Top 100 companies. The Top 10 is as follows: 1) Apple (US, technology): $416 billion in market capitalisation; 2) Exxon Mobil (US, energy): $404 billion; 3) Google (US, technologies): $263 billion; 4) Berkshire Hathaway (US, investment company): $257 billion; 5) Petrochina (China, energy): $255 billion; 6) Wal-Mart Stores (US, retail stores): $246 billion; 7) General Electric (US, industry): $240 billion; 8) Microsoft (US, technologies): $240 billion; 9) IBM (US, technologies): $238 billion; 10) Nestlé (Switzerland, agri-foods): $233 billion). Apple's climb to number one has been spectacular, indicates PwC. In 2008, this company was only in 41st position. According to one expert, “this illustrates the dynamism of a strong growth company, which has been a precursor” in understanding how to create demand for its own products. (IL/transl.fl)