KPMG Quarterly Brief - International Valuation Newsletter 2024 - Q2

The major focus of the second quarter of 2024 was undoubtedly politics with European Parliament members being elected across Europe at the beginning of June. This resulted in a significant shift to the right and led to the unprecedented announcement of early elections in France by Emmanuel Macron.

Also, the earlier than expected UK election at the beginning of July added uncertainty. In mid-June, a peace conference was held in Switzerland regarding the war in Ukraine, but major political players, such as Russia, were absent from the conference. China also increased political pressure on Taiwan in the second quarter, exacerbating the already tense situation. In the second quarter, the UEFA European Football Championship also kicked off in Germany without major incidents along with a very positive atmosphere of excitement.

Investors in computer chip manufacturer NVIDIA were able to rejoice as the share price rose by over 35% during the second quarter and reached a market capitalization of USD 3.3 trillion in mid-June – overtaking companies such as Microsoft and Apple.

In these thrilling times, we are pleased to present our KPMG Quarterly Brief, a publication that offers objective market data, which will keep readers abreast of the latest developments in the relevant financial markets.