Morgan Stanley has become the first bank since the turn of the millennium to break the dominance of UBS and Bank of America Merrill Lynch and win the top award for broker research on European companies.

The results of the highly-anticipated annual pan-European WeConvene Extel Survey, which took in the views of over 18,000 buyside, brokerage and corporate professionals, were announced at a lunchtime ceremony at the Guildhall in London on Monday.