AP Photo/Nabil al-Jourani
Everything from oil, to stocks, to currencies tanked early in European morning trading, before recovering to the end of the day, and broadly closing in positive territory.
Brent crude, the international benchmark, dropped as much as 7% just after markets opened, but ended the day up by 0.3% as investors got used to an oil market that in fundamental terms, is unchanged from how it was before the Doha meeting.
Here's how Brent looked at the end of the European day:
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- Britain's FTSE 100 - up 0.13%
- Germany's DAX - up 0.72%
- France's CAC 40 - up 0.29%
- Italy's FTSE MIB - up 0.56%
- Spain's IBEX 35 - up 0.48%
- Euro Stoxx 50 - up 0.40%
On a sector-by-sector basis, mining and commodity firms were the best performing, gaining on a slightly weaker dollar. This is how Anglo American, one of the biggest gainers on the FTSE 100, ended the day:
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Elsewhere in the markets, things in FX were crazy early in the morning after the meeting of oil producers ended without a deal. Petro currencies like the Canadian dollar and Russian ruble both fell in the aftermath, while the yen, often considered a safe-haven, saw considerable strength. However, things calmed down a few hours later.
Here's the FX scoreboard:
- The euro gained 0.3% against the dollar.
- Sterling gained 0.43% against the greenback.
- Brazil's real is down 1.28% after politicians voted to impeach president Dilma Rousseff.
- The Japanese yen was virtually flat against the dollar.
- The Chinese yuan closed off 0.1% after the National Bureau of Statistics showed that home prices in China gained in 62 of 70 cities tracked by the government.
While markets were crazy, but broadly positive, it was a particularly bad day for investors in Russia. Both of the country's major share indexes, the RTSI and the MICEX, saw big losses, while the rouble also lost big in early trading, losing more than 3% against the dollar.