Trading in European equity markets has this month hit €1 trillion ($1.2 trillion), a level not seen since the collapse of Lehman Brothers in September 2008, with markets taking wild leaps on fears over European sovereigns, a flash crash in the US and UK elections, reversing the low volumes of the past 18 months.

Total monthly equity activity crept above the €1 trillion ($1.2 trillion) mark yesterday and closed the day at €1,005.9bn, beating the previous highs since Lehman of €849bn in April this year and €810bn in October 2009. In September and October 2008, European volumes hit €1.25 trillion after confidence took a dive following Lehman's collapse, according to data from Thomson Reuters.