High volatility boosts Euronext's H1 trading to 3-1/2 yr high

* Market uncertainty spikes cash market trading volumes

* June cash order book transaction value up 54 pct

* Robust IPO activity helps co raise 61.7 bln euros (Adds details, analyst comment, share move)

By Aashika Jain

July 3 (Reuters) - Pan-European stock exchange Euronext NV reported its strongest six-month trading since 2011 as an uptick in volumes caused by economic uncertainty boosted performance.

Trading volumes in European markets have risen since the fourth quarter of last year due to uncertainty over the U.S. Federal Reserve's rate hike, currency fluctuations and fears of a Greek debt default.

The market volatility has benefited Euronext (Lisbon: ENX.LS - news) , which generated 40 percent of its total revenue from cash trading volumes in the first quarter.

The stock exchange reported a 35 percent rise in average daily transaction value in cash markets during the period that included three of the ten days with the highest traded volume since January 2012.

"We are still going to see very high growth in cash trading in Q3 as last year provides an easy comparison base, but from October onwards the comparison would become tough," Kempen & Co analyst Joost de Rijk told Reuters.

Average daily transaction value on the Euronext cash order book in June rose 54 percent to 9.2 billion euros, the operator of bourses in Paris, Amsterdam, Brussels, London and Lisbon said.

Euronext, the largest exchange in continental Europe for trading, competes with the London Stock Exchange (Other OTC: LDNXF - news) and Deutsche Boerse for company listings.

The exchange said eight new large-cap listings in the first half bolstered total capital raised on Euronext to 61.7 billion euros (43.87 billion pounds), compared with 57.8 billion euros a year earlier.

Last month, the London Stock Exchange said it had raised total equity capital of 16.5 billion pounds for the first five months of 2015 compared with 17.6 billion pounds a year earlier.

Euronext offers trading in equities, exchange-traded funds, warrants and certificates, bonds, derivatives, commodities and indices.

Average daily transaction value in ETFs in June more than doubled to 587 million euros from a year earlier, according to Euronext, which saw 38 new ETF listings during the period.

The exchange said commodity derivatives jumped 83 percent in June from a year ago due aided by greater volatility in grains due to adverse weather conditions in Western Europe and Midwest Plains.

European wheat futures surged to a six-month high, buoyed by concerns about rain-hit crops in the United States and potential damage from a hot spell in western Europe, traders told Reuters earlier this week.

Shares (Berlin: DI6.BE - news) in the company were marginally up 0.3 percent at 37.60 euros in Paris. (1 British pound = 1.4065 euros) (Reporting by Aashika Jain in Bengaluru; Editing by Gopakumar Warrier and Anupama Dwivedi)