Goldman Sachs beats rivals as capital markets rally in first quarter

Goldman Sachs topped global banking league tables for equity capital markets and mergers & acquisitions activities in the first quarter, as buoyant stock markets boosted appetite for dealmaking.

The Wall Street heavyweight ranked number one for initial public offerings (IPOs) and common stock sales during the first three months of 2013, raising $24.1 billion in proceeds from 89 issues, according to Thomson Reuters data.

Goldman's share of the market was 12.8 percent after rising 4.1 percentage points in the first quarter.

Overall equity capital markets activity totaled $187.5 billion during the first quarter, up 21 percent on the same period in 2012 and the strongest annual start for global equity capital markets issuance in two years, the data showed.

JP Morgan took top spot in the table for debt capital markets, thanks in part to high volumes of global investment grade and high yield corporate debt underwriting.

The bank booked $126.7 billion of business in the first quarter, increasing its share of the market by 0.7 percentage points to 8.3 percent.

Overall debt capital markets activity dropped 14 percent to $1.5 trillion in the slowest first quarter for debt market activity since 2008.

The value of worldwide M&A deals rose 10 percent to $542.8 billion in the first quarter, as a 63 percent rise in big-ticket deals valued $5 billion and higher offset a 16 percent drop in the number of new deals announced.

Goldman increased its share of the market for new takeover activity by 1.3 percentage points to 25 percent. Morgan Stanley was ranked number one for deals completed.

(Reporting by Sinead Cruise; Editing by David Cowell)