The London Stock Exchange and Euronext have captured most of the subdued initial public offering market in Europe in the second quarter of this year, according to new research from PricewaterhouseCoopers (PwC).

Tom Troubridge, a partner at PwC, said: "Despite the gloomy economic climate, the IPO market has proved to be remarkably resilient in the second quarter, particularly on the London and Euronext exchanges.