A recent study revealed that the list of the 100 largest companies by value on global stock exchanges barely includes German companies. While Saudi Aramco, the oil giant, topped the list.
The study, which was conducted by the economic consulting firm Ernst & Young and published its results on Monday, showed that while American and Chinese technology companies dominate the list of the 100 largest companies on global stock exchanges, the position of Germany with its traditional industrial companies on the list is declining. Only the German software company SAP and the German electronics company Siemens were able to occupy two places on the 100 list (51st place for the first, with a value of $160 billion on the stock market as of December 26, 2019, and 100th place for the second, with a value of $106 billion). .
The German insurance company “Allianz” dropped out of the 100 list despite the rise in its shares on the stock exchange, ranking 110th.
The first place on the list was occupied by a non-American company, Saudi Aramco Oil Company, which entered the stock market for the first time this month with a value of about $1.88 trillion - equivalent to almost double the value of the top 12 German companies on the stock exchange.
Next in line were the American companies Apple, Microsoft, Alphabet, Amazon, and Facebook. American companies occupied more than half of the positions on the 100 list.
The Swiss food company Nestlé was the highest European on the list, ranking 16th.
Ernst & Young CEO Hubert Barth said: “Since the beginning of the financial crisis at the end of 2007, the weight of companies has shifted strongly on global stock exchanges.”
Before the financial crisis, the list of 100 included 46 companies from Europe, but Europe's share on the list has now fallen to almost half.
In 2007, Germany had seven companies among the 100 list. Bart said that Germany is currently losing its position on global stock exchanges. Bart stated that investors currently have greater confidence in technology companies, which constitute the economy of the future, explaining that investors expect little growth for the leading industrial sector in Europe, noting that the progress of technology companies on the stock market does not stop now.