Euronext Reports Mixed July 2024 Performance

​Euronext's market activity report for July 2024 highlights a mixed performance across various trading segments, reflecting a complex trading environment. The total number of cash market transactions saw a 3% increase from June, totaling 51,025,038 trades. This growth indicates a heightened trading activity compared to the previous month.

However, the average daily volume (ADV) for cash market transactions decreased by 11% from June, settling at 2,218,480 transactions. This represents a 2% decrease compared to July 2023, signaling a slowdown in trading activity despite the overall increase in transaction numbers.

In terms of transaction value, there was a 4% month-over-month decrease, amounting to €221,979 million in July. Despite this decline, the value represents a 16% increase compared to the same month last year. Year-to-date figures show a marginal 1% rise in transaction value compared to 2023, reaching €1,576,522 million. This suggests ongoing interest in the cash market despite recent fluctuations.

The fixed income market displayed varied trends. The average daily volume (ADV) for MTS cash transactions fell by 20% month-over-month to €32,883 million, although this is a 63% increase from July 2023. The ADV for MTS repo transactions decreased by 6% from June to July, totaling €168,429 million, yet showed a 6% increase compared to the previous year. The Term Adjusted Average Daily Volume (TAADV) for MTS repo saw a 4% month-over-month increase and a 17% year-over-year rise, reaching €494,576 million. Conversely, the broader fixed income category experienced a 27% drop in ADV month-over-month, totaling €1,277 million, though it marked a 52% increase from the previous year.

Listings and capital raised saw significant fluctuations. The number of issuers on Euronext equities decreased slightly to 1,859 from 1,862 in June. The number of listed funds decreased by 1%, while ETFs increased by 1%. The number of listed bonds remained stable. In the primary and secondary markets, new equity listings experienced an 85% drop, falling to €92 million from €630 million in June. However, follow-on equity offerings surged by 44%, totaling €2,269 million. Year-to-date figures show a 25% increase in total capital raised compared to 2023, reaching €931,283 million, largely driven by bond issuances.