Some league tables you'd fight tooth and nail to top. Others you want to be nowhere near. Sadly for some banks, the parlous state of European equity capital markets means they have found a place on a new ranking that highlights their failed deals in the first half of this year.

Financial News has compiled a league table with the help of Dealogic that brings a degree of clarity to just how painful the equity markets can be. It takes into account all deals that have priced, looks at those that failed to complete, and then allocates a failure rate based on how successful the banks have been at choosing the deals on which to work. Only banks who worked on at least two completed deals are included, and the figures also don't count as "failed" any deals where the original price range has been cut to ensure the deal completes, such as was the case this morning with online UK retailer Ocado.