Pre-tax profits at Merrill Lynch's global markets and investment banking division soared 67% to a record $1.3bn (€1.1bn) in the three months to September 30 on a 63% rise in revenues to $3.6bn. The bank reported a strong performance across all businesses.

Global markets' net revenues increased 73% to $2.8bn compared with the third quarter of last year as debt markets' revenues rose 57% to $1.6bn and equity markets' net revenues more than doubled to $1.2bn.