Google has been named the world's leading brand and Vodafone the top UK company in the new Brand Finance Global 500 report.

The annual survey ranks Google, worth $44.3bn (£27.3bn), as the world's leading brand, knocking Microsoft into second place.

Vodafone is ranked fifth in the global index with a valuation of £19bn, putting it above Apple, HSBC and Coca-Cola.

BP, however, has been bumped down 53 places following the oil spill crisis, its brand value suffering a £2.1bn loss.

David Haigh, chief executive of Brand Finance, said: "Vodafone's presence in the top 10 is testament to the UK's ability to grow and nurture great brands, despite a tough economic climate. From a global perspective, five of the top10's largest growers are technology-related companies, reinforcing the importance of embracing technological innovation to give a seamless, value-enhancing brand experience.

BRAND FINANCE: THE TOP 10 MOST VALUABLE BRANDS

Rank 2011Rank 2010BrandBrand Value 2011 (US$ millions)Brand Value 2010 (US$ millions)12Google44,29436,19125Microsoft42,80533,60431Wal-Mart36,22041,36544IBM36,15733,70657Vodafone30,67428,995612Bank of America30,61926,04776General Electric30,50431,909820Apple29,54319,829915Wells Fargo28,94421,9161011AT&T28,88426,585