Dec 2 (Reuters) - Tesla's market capitalisation
increased by the most among top global companies in November,
boosted by expectations the automaker will benefit from CEO Elon
Musk's close ties with U.S. President-elect Donald Trump.
The company's market value surged 38.1% to $1.1 trillion
last month on reports that Donald Trump's transition team plans
to relax federal regulations on self-driving cars, potentially
simplifying the rollout of autonomous vehicles.
Optimism around holiday shopping helped boost Walmart's ( WMT )
market value by 12.9% to $743.5 billion, following the
company's third upward revision of its annual sales and profit
forecasts, driven by increased online and in-store purchases of
groceries and merchandise.
JPMorgan Chase's ( JPM ) market value rose 12.5% to $703
billion, as it was announced that CEO Jamie Dimon will continue
leading the bank and with investors confident that Trump will
bring favourable policies for lenders.
Improving retail sales pushed Amazon.com's ( AMZN ) market
value up 11.5% to $2.2 trillion, after it reported
higher-than-expected profit growth. Similarly, Visa saw its
market value increase by 8.3% to $617.5 billion, as resilient
consumer spending pushed it to a strong fourth-quarter profit.
Reports that U.S. authorities ordered Taiwan Semiconductor
Manufacturing Company ( TSM ) to halt shipments of advanced
chips to China, a move aimed at curbing exports of critical
technologies, helped wipe 5.1% off its market cap, which fell to
$793.5 billion.
AI bellwether Nvidia's ( NVDA ) market value rose by a
modest 3.9%, slowing from October's 9.3% increase as its revenue
growth forecast failed to excite investors.