The Association for Financial Markets in Europe (AFME), in collaboration with PwC Strategy&, has today published a comprehensive report analysing the state of European equity markets. Drawing on new quantitative data and insights from over 40 interviews with key market participants across the equity value chain, the report offers a detailed assessment of the current strengths and persistent challenges facing Europe’s equity markets.

The research reveals a mixed picture. While recent reforms and steady market performance suggest some cause for optimism, deeper structural issues continue to weigh on Europe’s global competitiveness.

The report identifies increasing investor participation as critical to Europe’s growth and competitiveness and recommends targeted interventions to simplify the regulatory framework and reduce the complexity of the ecosystem to support this.