Global IPO volumes fall 46 per cent
Global initial public offering (IPO) saw its year-to-date (YTD) volumes fall 46 per cent year on year to 630 IPOs, with proceeds shrinking 58 per cent to US$95.4 billion, as heightened volatility caused by geopolitical tensions and macroeconomic factors, declining valuation and poor post-IPO share price performance led to the postponement of many IPOs. In a statement on Friday, EY Initial Public Offering Services said for the second quarter of 2022, the global IPO market recorded 305 deals raising US$40.6 billion in proceeds, down 54 per cent and 65 per cent year on year, respectively. It said during the period under review, the energy sector had replaced the technology sector as the top IPO fundraiser, whereby among the top 10 largest IPOs by proceeds which raised US$40 billion, energy dominated three of the top four deals, replacing the technology sector. — Bernama
European stocks edge higher
European stocks were higher on Friday, paring some of this week's losses after weaker-than-expected data from China fuelled fears of a global economic downturn. The pan-European Stoxx 600 index rose 0.8 per cent by early afternoon deals, with autos jumping 2.7 per cent to lead gains while household goods fell 1 per cent Shares of Germany's Uniper jumped 7.7 per cent after Fortum, Finland's majority owner of Uniper, reportedly said it was forced to consider all options to ensure the security of European energy markets. Uniper was the first German energy company to sound the alarm over soaring energy bills due to reduced supplies of Russian gas. It asked the German government for a bailout last week. At the top of the European benchmark, Swedish IVF products company Vitrolife climbed more than 12 per cent. — CNBC
Sensex, Nifty rebound
Indian benchmark share indices rebounded on Friday after four days of decline and closed with decent gains led by auto and consumer goods companies. Key share indices, Sensex and Nifty, rebounded, led by strong buying support in auto and FMCG stocks. The 30-stock Sensex ended at 53,760.78, up 344 points. HUL, Titan and Maruti surged over 2.5 per cent each, while Power Grid, Tata Steel and HCL Tech ended with cuts of more than 2 per cent. The broader Nifty 50 index ended at 16,049.20, up 110.55 points. Tata Consumer, Titan and Airtel led the pack. Tata Steel, HCL Tech and Wipro lagged. Good buying support in FMCG and auto stocks helped the indices clock decent gains. The Indian rupee, meanwhile, recovered 8 paise to close at 79.91 against the US dollar. — livemint.com
