EY counted 483 initial public offerings (IPOs) worldwide from January to June 2026. That is twelve percent fewer than in the first half of 2025. EY cites increasing geopolitical tensions as the main reason, particularly the ongoing war of the US and Israel against Iran that began in late February. The blockade of the Strait of Hormuz disrupted global trade in oil, gas, and fertilizers for weeks, unsettling companies and investors.
The regional picture is mixed: In Europe, the number of IPOs rose by only two percent, while China (including Hong Kong) saw a 39 percent increase. In the US, however, more than a third fewer companies went public. In terms of issuance volume, the US led: the total value of newly issued shares rose by around 200 percent, driven by the SpaceX IPO in June with a volume of roughly $86 billion – the largest ever.
Despite the Iran war, the world’s major stock indices proved robust. Japan’s Nikkei has gained over 40 percent since the start of the year, and the tech-heavy US Nasdaq 100 has risen over 20 percent. The German stock index (DAX) remained modest with a gain of two percent, trading around the 25,000-point mark at midday. Inflation in the eurozone fell to 2.8 percent in June – the first decline since the start of the war, as Commerzbank chief economist Jörg Krämer noted.
Source: Tagesschau
