By Bloomberg (Business) | Created at 2024-09-26 09:22:47 | Updated at 2024-09-30 19:25:45
4 days ago
French power-equipment maker Schneider Electric SE leapfrogged the country’s largest oil and gas producer TotalEnergies SE in market capitalization, a sign of the accelerating shift from fossil fuels toward electrification.
Schneider’s shares have risen 35% this year, boosting its market capitalization to about €142 billion ($158 billion) in Paris and making it the fourth-largest company company on France’s CAC40 stock index. The value of the maker of everything from switchgears to software that manages grids and factories is now only surpassed in France by luxury fashion groups and cosmetics giants LVMH Moët Hennessy Louis Vuitton SE, Hermes International SCA, and L’Oreal SA.
