The largest world capitalizations have reached unprecedented levels of valuation, ignoring geopolitical uncertainties and economic challenges in the first half, according to the barometer published by the consulting firm EY on Thursday.
The 100 largest listed companies saw their market capitalization grow from 6.1% to 47,400 billion dollars in mid-term of the year 2025. Compared to the level of valuation of the end of 2023, this corresponds to an increase of 34%.
In the top 100, we find the three heavy goods vehicles of SMI Roche, Nestlé and Novartis, while the Top 500 includes a total of 14 Swiss companies. On the latter, nine companies have obtained a better place in the ranking compared to the beginning of 2025, specify the authors of the report.
The importance of Europe decreases
Taking precedence over Microsoft, then Apple, the Nvidia flea specialist is now the most expensive listed company in the world. The Top 10 is made up of American companies only, with the exception of Saudi Aramco. And out of the hundred largest world capitalizations, 60 are American, compared to 32 ten years ago. “The importance of Europe on global scholarships has decreased in recent years,” said the authors of the report.
In global financial markets, financial services and technology are the driving sectors of growth. Although Europe is lagging behind compared to the United States, some technological companies rise in the ranking: the German company SAP, the manufacturer of Dutch chips ASML and its British counterpart Arm.
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