LONDON (Reuters) - With Google parent Alphabet GOOGL.O becoming the latest entrant to Wall Street's trillion-dollar club, Europe's blue-chip companies are dwarfed by comparison -- the most valuable firm from the "old continent", Nestle, is worth just a third of that.

Slideshow ( 2 images )

Alphabet surged past the $1 trillion mark late on Thursday, joining Apple AAPL.O, Microsoft MSFT.O and Amazon AMZN.O, which had breached that level in 2018 before giving up some of those gains.

Add Facebook FB.O (current worth: $630 billion) and you get a group with a combined market cap of $5.2 trillion, more than the combined $4.6 trillion value of the STOXX 50 European index .STOXX50.

(Graphic: Top five U.S. companies bigger than European blue-chip index click, )

Comparing entire benchmark stoc indexes, the U.S. S&P 500 .SPX has a $27.5 trillion price tag, almost three times the $10.1 trillion on the pan-European STOXX 600 .STOXX.

There is no place for Europe at the global top 10 table where the cheapest company, JPMorgan, scrapes in at $430 billion, well above Nestle’s $315 billion.

(Graphic: The World's top ten companies click, )

The main culprit for the huge discrepancy is Europe’s lack of a digital bellwether stock to match the past decade’s tech boom, spearheaded by the U.S. ‘FAANGs’ (Facebook, Amazon, Apple, Netflix, Google) and China’s ‘BATs’ (Baidu, Alibaba and Tencent).

The FAANGs have transformed the U.S. equity landscape, with the Top 5 U.S. stocks accounting for almost a fifth of the market cap of the whole S&P500. Here’s a trip down memory lane when oil majors and banks reigned supreme on Wall Street.

(Graphic: S&P 500 in 2007s: A good mix click,