The latest publication shows that European capital markets showed mixed performance in Q3 2026. Market capitalisation and investment flows rebounded from Q2, while new listings continued to rise. Slightly more IPOs raised substantially more capital. Equity and ETF trading eased for a second consecutive quarter, contrasting with the recovery in bond and commodity derivatives. Investment fund capitalisation continued to grow. The fundraising recovery comes amid uncertainty. ESMA’s September risk assessment for the first half of the year notes that elevated valuations may heighten sensitivity to economic and geopolitical developments.
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New listings and total investment flows picked up during Q3 2026, alongside a slight rise in IPOs
Although equity trades and turnover remained above H2 2025 levels, both declined for a second consecutive quarter in Q3 2026
Bond trades and turnover both rose in Q3 2026, with trades recovering after the Q2 decline and turnover increasing further
Aggregated futures recovered in Q3 2026, driven by bond and commodity futures, while options declined amid weaker bond, stock and index activity
