ExxonMobil replaces GE as world's largest company in market-cap

02/18/05 - newratings.com

NEW YORK, February 18 (newratings.com) – ExxonMobil Corporation (XOM) has replaced General Electric (GE) as the world's largest company in terms of market value.

The market value of ExxonMobil, the world's largest publicly traded oil company, appreciated to $380.9 billion in morning trade on Friday, while exceeding the market value of GE by about $1 billion. ExxonMobil's share price has appreciated by about 40% over the past one year, boosted by the company's robust refining capacity, cash flow growth and exposure to the ongoing oil-price-driven positive momentum in the oil sector. This compares with an appreciation of 10.6% in GE's share price in the same period. GE was ahead of ExxonMobil in terms of market value by $49 billion at the end of January this year. However, GE's share price has declined by 0.7% this month, while ExxonMobil's share price has gained 14% in this period.