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Politics : Foreign Affairs Discussion Group

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From: bentway	7/14/2007 7:44:18 PM
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Exxon Mobil tops $500 billion _____________________________________________________________ Bloomberg News July 12, 2007, 10:56PM Exxon Mobil Corp. became the first publicly traded company valued above half a trillion dollars Thursday. Shares of Exxon Mobil rose 2.7 percent Thursday pushing the market capitalization of the Irving-based company to $504.9 billion — more than the annual economic output of Argentina, Finland and Kazakhstan combined. A 40 percent gain in the past 12 months made Exxon Mobil 26 percent bigger than General Electric Co., the next largest U.S. company. A bottleneck in U.S. refining capacity also helped earnings for integrated companies such as Exxon Mobil that produce, process and market petroleum. Exxon Mobil shares, which ended Thursday at $89.62 on the New York Stock Exchange, have been the biggest contributor to the Standard and Poor's 500 Index's rally. Exxon Mobil now accounts for 3.7 percent of the S&P 500's market value.

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