Saturday, 15 November 2014 - 13:26
Microsoft leapfrogs Exxon to become second largest firm
Energy giant Exxon has ceded its position as the world's second-largest public company to tech firm Microsoft, after concerns about the falling price of oil drove its shares down.
Exxon's shares traded at 94.90 dollars midday on Friday, reducing the total value of all its shares, or market capitalisation, to 401.9 billion dollars.
Shares in Microsoft - which have been rising after a strong October earnings report - hit 49.81 dollars.
Overall, shares in oil companies have been hit in recent weeks, as oil prices have continued to plummet.