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The European Equity Capital Markets returned to more moderate levels of activity following the previous month’s high number of deals. The proceeds for July amounted to $14.8 billion coming from  a total of 29 deals which was similar to deal volumes seen in May. Despite totalling less than half of June’s swell in issuance proceeds, the relative decline in business would have been far worse if it was not for the large follow on offerings of more financial institutions looking to raise capital for tier 1 reserves and repayment of debt.
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