European equity capital markets volume reached a record $305bn (€211.8bn) this year, an all-time high, shrugging off concerns that the credit crunch would damp investor appetite for equity towards the end of the year. The result was especially positive for London, which has proved once again to be the world's busiest stock exchange.

The proceeds raised by European equity capital markets deals, which includes initial public offerings, convertible bonds and secondary offerings, rose by 15% from last year's volume of $266bn, also a record according to Thomson Financial.