Exxon now most valuable private company

US oil giant Exxon Mobil has overtaken General Electric as the world’s most valuable public company.
The firm, which last month made a record $25.3bn (£13.4bn; 19.4bn euros) profit for 2004, has been buoyed by rising profits from booming oil prices.

Exxon Mobil passed General Electric to become the largest corporation by stock market value.

On Friday Exxon Mobil shares gained more than 2%, having surged 43% from a year ago – while GE’s price slipped.

Although Exxon has gained the top spot, the position could be reversed again with a change in the share price of the two.

BBC News