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The updated Brand Finance Global 100 league table shows the value of the top 100 global brands to have dipped by 2.4%, when compared to the total value in January, as a result of factors such as exposure to sovereign debt.

HSBC has become the most-valuable banking brand in the updated list, with Bank of America experiencing a brand value fall of $5.3bn (£3.3bn). The financial services sector was particularly badly hit, with insurance giant Axa losing $1.6bn from its overall brand value.

However, technology and electronics brands such as Google, Apple and Microsoft, all increased in value, with Apple in particular adding nearly $10bn to its brand value since January, despite news of the impending departure of chief executive Steve Jobs.

Meanwhile, car brand Toyota, which suffered its vehicle recall crisis in 2010, has returned to the top 10, with its brand value up to $28.8bn.

David Haigh, chief executive at Brand Finance, said: "As stock markets around the world falter, we are seeing a drop in the amount of intangible value global businesses hold, and the value of the individual brands. Even the world’s biggest businesses are not immune to change."