What happened overnight
Andorra has applied to become the th member of the International Monetary Fund. The application from the small – but very wealthy – independent state in the Pyrenees mountains, sandwiched between Spain and France, will be considered by the IMF’s Executive Board “in due course,” the IMF said. Andorra has a population of about 86, and annual GDP of about $ 3.3bn (£ 2.5bn).
Elsewhere, Asian markets rose Friday but investors were struggling to maintain a rally triggered by easing US-Iran tensions the previous day as focus turned back to the global economic outlook.
The toning down of rhetoric from Donald Trump and Tehran following an Iranian missile attack on US assets in Iraq soothed concerns about a possible conflict in the Middle East and lit a fire under global equities on Thursday.
That has allowed dealers to resume their buying spree that had characterized business for the past few weeks, cheered by China and the US reaching a trade deal, central banks easing monetary policy and data pointing to an improved global outlook.
Wall Street’s three main indexes racked up fresh records and Asia broadly followed suit.
The Nikkei climbed 0. 90 pc, the Hang Seng edged up 0.2pc, and South Korea’s Kospi rose 0.9pc.
The FTSE 100 is tipped to open up 0.4pc.
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