LONDON, May 20 (Reuters) - MSCI's main world stock index hit a new high for the year on Wednesday, taking it to levels last seen in November 2008.
The all-country world index <.MIWD00000PUS> reached 245.32, gaining around 1.75 percent on the day. The index was last at this level on November 5 last year.
The index -- which is a global equities benchmark for many institutional investors -- is now up 7.6 percent for the year to date and has risen around 43 percent since a global stock market rally began in March.
It remains, however,more than 42 percent below its all-time high reached in November 2007.