LONDON (Reuters) - With Google parent Alphabet GOOGL.O becoming the latest entrant to Wall Street's trillion-dollar club, Europe's blue-chip companies are dwarfed by comparison -- the most valuable firm from the "old continent", Nestle, is worth just a third of that.
(Graphic: Top five U.S. companies bigger than European blue-chip index click, )
There is no place for Europe at the global top 10 table where the cheapest company, JPMorgan, scrapes in at $430 billion, well above Nestle’s $315 billion.
(Graphic: The World's top ten companies click, )
The main culprit for the huge discrepancy is Europe’s lack of a digital bellwether stock to match the past decade’s tech boom, spearheaded by the U.S. ‘FAANGs’ (Facebook, Amazon, Apple, Netflix, Google) and China’s ‘BATs’ (Baidu, Alibaba and Tencent).
The FAANGs have transformed the U.S. equity landscape, with the Top 5 U.S. stocks accounting for almost a fifth of the market cap of the whole S&P500. Here’s a trip down memory lane when oil majors and banks reigned supreme on Wall Street.
(Graphic: S&P 500 in 2007s: A good mix click,
Reporting by Julien Ponthus and Thyagaraju Adinarayan in London; Editing by Toby Chopra
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