Equity Capital Markets Equity capital markets issuance picked up this week with $2.0 billion raised from 18 issues. Morgan Stanley replaced Goldman Sachs at the top of the league table ranking with $5.5 billion worth of deal credits, while UBS moved to second place with $5.41 billion, closely followed by J.P. Morgan on $5.38 billion. Morgan Stanley climbed to the top of the ranking on the back of Sterlite Industries' $1.5 billion ADR issue that priced yesterday. The follow-on issue was the biggest deal of the week and jointly led with J.P. Morgan. Morgan Stanley also ran an $80 million bought deal for China Shanshui Cement Group. UBS jumped a couple of notches in the league table following Renhe Commercial Holdings' $720 million accelerated bookbuild that the Swiss house ran on a sole basis.