We present new limits on an isotropic stochastic gravitational-wave background (GWB) using a six pulsar dataset spanning 18 yr of observations from the 2015 European Pulsar Timing Array data release. Performing a Bayesian analysis, we fit simultaneously for the intrinsic noise parameters for each pulsar, along with common correlated signals including clock, and Solar System ephemeris errors, obtaining a robust 95 upper limit on the dimensionless strain amplitude of the background of at a reference frequency of and a spectral index of , corresponding to a background from inspiralling super-massive black hole binaries, constraining the GW energy density to $\Omega_(f)h^2 < 1.1\times10^{-9}$ at 2.8 nHz. We also present limits on the correlated power spectrum at a series of discrete frequencies, and show that our sensitivity to a fiducial isotropic GWB is highest at a frequency of ~Hz. Finally we discuss the implications of our analysis for the astrophysics of supermassive black hole binaries, and present 95 upper limits on the string tension, , characterising a background produced by a cosmic string network for a set of possible scenarios, and for a stochastic relic GWB. For a Nambu-Goto field theory cosmic string network, we set a limit , identical to that set by the {\it Planck} Collaboration, when combining {\it Planck} and high- Cosmic Microwave Background data from other experiments. For a stochastic relic background we set a limit of , a factor of 9 improvement over the most stringent limits previously set by a pulsar timing array.

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