From resilience to reawakening

Key statistics

This report delves deeper into several Hot Topics under the following headings: the H1 2024 Equity Markets Performance, the Dutch CFO Survey, the rise of Dual Track, enhancing transparency in financial reporting, EU's new listing act and IPO Scanner and ESG.

Take a look at some key statistics of the report below:

• As of June 30, 2024, the major global stock indices have all closed on the up, with gains ranging from 5% to 18%, except for the CAC 40, which slipped 0.8% due to the country’s political instability.

• Despite clear signs of weakening inflation since its all-time peak in October 2022, central banks have maintained a stringent stance on lowering interest rates too quickly.

• The bullish equity market encouraged ECM market activity, with volumes rising to €73.2 billion, a 20% year-on-year increase.

• The IMF projects that Eurozone economies will grow by 0.8% in 2024 and 1.5% in 2025, contrasting with the economic expansion expected in the US, which is estimated to achieve growth rates of 2.7% and 1.9% in 2024 and 2025, respectively. Meanwhile, the Netherlands is expected to grow by 0.7% and 1.5% in the respective periods.

• The main Dutch index, AEX, was by far the best-performing European index, gaining 17% in the first half of the year, almost doubling the second-best performer, the Italian FTSE MIB.

• The technology sector, up by 16.9%, climbed on the back of advancements in AI and cloud computing, with many companies in the sector showing strong corporate earnings, such as ASM, ASML, SAP, or Prosus.

• The IPO market has bounced back, with successful and significant deals encouraging others to come to market in the second half of the year and in 2025, building a healthy pipeline.

• The AFM highlights significant gaps in transparency and compliance with the European Securities and Markets Authority (ESMA) guidelines, underscoring the urgent need for improvements.

• The EU Listing Act represents a significant shift in the regulatory landscape of EU public capital markets, aiming to make the EU a more attractive destination for companies seeking to raise capital.

Discover all our findings by downloading the latest ECM Update 2024 here.

About the team

The Deloitte ECM team comprises professionals from our Audit, Financial Advisory and Tax businesses with varied backgrounds including accounting, law and investment banking to provide a multi-disciplinary service model.

The team offers a wide variety of services including Audit related services, Independent Advisor, advising public companies in relation to M&A, providing executive remuneration and tax advice and both Readiness and Assist services to prepare for and to support an IPO.

We hope you will find this ECM update both valuable and interesting. Please do get in touch if we can be of assistance or if you would like to learn more about our team or capital market transactions.