A recovery in equity markets in the third quarter has allowed global equity issues to outpace convertibles in terms of value, according to preliminary data from Dealogic, the investment banking research firm.

Excluding rights issues, global equity issues totalled $55.6bn (€48.4bn) in the third quarter of this year compared with $39.4bn from the global equity-linked market, which dominated the market for the first six months of this year.