World stocks hit a two year high on Thursday, touching levels not seen since September 2008 just after the collapse of Lehman Brothers.

Emerging market stocks led the way, touching levels not seen since June 2008.

MSCI’s all-country world index, a leading benchmark used by professional investors, was up 0.8 percent in the day at around 319. This was the highest level since Sept. 22, 2008.

The index was up around 0.8 percent on the day, some 85 percent above its financial crisis low in March 2009.

MSCI’s emerging market benchmark was up more than one percent on the day. It has risen 14 percent this year.