LONDON, Oct 14 (Reuters) - World stocks as measured by MSCI hit a new 12-month high on Wednesday, driven up by bullish earnings and growth sentiment. Here are five facts about stock gains and losses:
-- MSCI's all-country world index, which is an investor benchmark for global stocks, hit 294.41 in early European trading, its highest level since early October 2008.
-- The index has now gained slightly more than 29 percent in 2009, which, if maintained, would be its largest annual gain since 31.62 percent in 2003 and its second largest gain in the index's nearly 22-year history.
-- This 2009 gain is skewed by sharp losses in the early part of this year. Since hitting a six-year low on March 9, the index has gained more than 71 percent.
-- The last time the index was at this level on the way up (as opposed to during last October's decline) was in late 2005.
-- Many of the index's gains have come in emerging markets. The MSCI emerging market index is at levels last seen in August 2008, before Lehman Brothers collapsed. It has gained nearly 105 percent since March 3 this year.