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Places boursières européennes : renforcer l’attractivité, relancer la dynamique

Author

Listed:
  • Gabriel Chemain
  • Lucas Devigne
  • Nicolas Rigaudière

Abstract

Les marchés actions aux États‑Unis affichent depuis plusieurs années une meilleure dynamique que les places européennes. L’introduction en bourse de SpaceX en juin 2026, comme celles attendues dans le secteur de l’intelligence artificielle, illustrent ce dynamisme américain. Toutefois, l’écart avec l’Union européenne (UE) s’avère plus profond et généralisé, en nombre d’introductions en bourse, montants levés, valorisations des sociétés cotées et multicotations. Au‑delà des divergences macroéconomiques, la moindre attractivité des places européennes n’est pourtant pas une évidence. La force du continuum américain entre financements privés et marchés boursiers doit être nuancée. En outre, les divergences réglementaires entre États‑Unis et UE sont mineures. Dans le cadre de l’Union pour l’épargne et l’investissement (UEI), les décideurs européens disposent de marges d’action pour renforcer l’attractivité des places en matière de profondeur et d’infrastructures de marché ou de réglementation de l’introduction en bourse.

Suggested Citation

  • Gabriel Chemain & Lucas Devigne & Nicolas Rigaudière, 2026. "Places boursières européennes : renforcer l’attractivité, relancer la dynamique," Bulletin de la Banque de France, Banque de France, issue 266.
    • Handle: RePEc:bfr:bullbf:2026:266:04
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    File URL: https://www.banque-france.fr/system/files/2026-10/BDF266-4_Places-boursi%C3%A8res_web.pdf
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    References listed on IDEAS

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