Petrobras beats Microsoft in market value
Brazil's state-owned oil and gas company Petrobras has become the third “most valuable” company of the Americas, ahead of Microsoft, consulting firm Economatica said.
Economatica said Petrobras' preferential stocks had risen over 110% and Microsoft's dropped 3.5% in the past one year.The performance of the Brazilian oil and gas giant was attributed mainly to the discovery of huge deep-water fields that could convert the company into one of the 10 biggest oil and gas producers in the world.
US oil giant Exxon Mobil topped Economatica's list of the American continent's biggest companies, with a market value of $489 billion, followed by General Electric at $320 billion.Apart from Petrobras, other Latin American companies such as Brazilian miner Vale and Mexican telecom company America Movil were also on the list. (Xinhua)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.