It says something about a market when the firm that ranks top does so despite having its worst period of business in a decade. This is what happened in the European M&A legal advisory tables for the first half of the year. The listings were headed by Freshfields Bruckhaus Deringer, which recorded its worst six-month deal tally since 2003.

According to data provider Dealogic, Freshfields led the first-half tables with 57 European deals worth a combined $45.3 billion, some way ahead of magic circle rival Linklaters, which handled 33 mandates worth $40 billion.