In a recent interview, Stéphane Boujnah, CEO of Euronext, expressed his optimism for the future of initial public offerings (IPOs) on the pan-European market. Despite some IPO postponements, he believes that Euronext's pipeline is solid and predicts that 2024 will be a good year for new listings.

Faced with the volatility in the French markets, induced by the announcement of early elections by President Macron, Boujnah reassures that this instability will be short-lived and that the markets will stabilise as the elections approach and the uncertainties dissipate.

As for fears that companies might abandon the French stock market because of political instability or European investors' preference for green energy, Boujnah remains confident. He points out that the measures that make France attractive to foreign investment are well established and have transcended different governments over the past 20 years.

He also raised the case of Total, saying that the company has no intention of moving its main listing outside Europe and remains committed to the Euronext markets. In his view, Total's main challenge is to close the valuation gap with its US counterparts, which benefit from an investor base more favourable to the oil and gas sectors.

Finally, Boujnah highlighted the growth of Euronext since its re-listing ten years ago, with market capitalisation and trading volumes now exceeding those of the London Stock Exchange. He called for changes in solvency ratios and tax incentives to channel more savings into equities and boost Europe's capital market.

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