Global Top 100 companies - June 2020 update
Global ranking of the top 100 public companies by market capitalisation
Introduction
This report ranks the Global Top 100 public companies by market capitalisation as at June 2020.
In our annual Global Top 100 report, issued in May 2020, we recognised that the reference point of 31 March 2020 fell in the midst of an upheaval in the global equity markets caused by the COVID-19 pandemic. Volatility levels had increased significantly, and investors were highly sensitive to short-term news-flow.
Given the uncertain outlook for the markets, as the world adapted to the changing environment caused by the COVID-19 pandemic, we committed to providing quarterly summary updates to track the changing position of the Global Top 100.
In our May report, we highlighted signs that investors were favouring the relative security of the larger companies and that they were discriminating keenly when assessing the prospects for different sectors.
“Given the significant volatility in financial markets, the world’s largest companies provide relative security for investors. The concentration of Technology and Consumer Services companies is a key driver of the Global Top 100 outperforming the wider market index. This is a challenging environment for all companies, but there are clear distinctions in the relative performance of different regions and sectors. I hope this quarterly review will provide interesting insights into how the markets are viewing the world’s largest businesses as they adapt to this uncertain landscape.”
Explore the Global Top 100 companies by region:
Greater China
$21,075m
Market Cap (30 June 2020)Alibaba Group Holding-Sp ADR
7
Rank$471.7m
Market Cap(30 June 2020)
1.7%
% Change MktCap (19-18)
Tencent Holdings Ltd
7
Rank$471.7m
Market Cap(30 June 2020)
1.7%
% Change MktCap (19-18)
Ind & Comm Bk of China-A
7
Rank$471.7m
Market Cap(30 June 2020)
1.7%
% Change MktCap (19-18)
Source: Bloomberg and PwC analysis
Key highlights - June 2020 update
Market capitalisation
- Having decreased by 15% ($3,905bn) from December 2019 to March 2020, the market capitalisation of the Global Top 100 as at June 2020 was 1% ($335bn) lower than December 2019.
- In general, the world’s current largest companies have seen a stronger recovery in market capitalisation than the wider market indices, reflecting the relative concentration of the Technology and and Consumer Services sectors in the Global Top 100. Consumer Services companies, in particular, significantly outperformed the industry index.
- Saudi Aramco maintained its leading position, but suffered from the prevailing oil price outlook. The second and third ranking companies, Apple and Microsoft saw market capitalisation increases of $469bn (42%) and $344bn (29%) respectively from March to June, closing the gap with Saudi Aramco.
Source: Bloomberg
*as at March unless stated
Source: Bloomberg
Sector performance of the Global Top 100 companies
- Industrials and Basic Materials: In these historically cyclical sectors, institutional investors’ focus appears to have shifted towards value and defensive stocks, supported by strong fundamentals.
- Consumer Services and Technology: The market capitalisation of these sectors recovered from the first-quarter losses as both benefited from changing consumer trends in response to COVID-19.
- Financials and Oil & Gas: Companies in these sectors saw modest gains of 5% and 10% respectively in March to June 2020, recovering some lost ground from the first quarter.
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