World stocks rise to six-month high

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 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.