by Martin Armstrong
A disappointing result from the weekends Doha meeting, resulted in negative market reaction early Monday morning trading. With oil initially trading off 6.5% from Fridays close the Asian equity markets opened in a bit of a frenzy with many brokers looking for the bid. The Nikkei was the weakest of the bunch closing down over 500 points (3.4%). However, that resulted in the days lows and spent the rest of the trading session recovering.
Europe saw a similar pattern, opening on the days lows only to rally into the close. Most core markets closed up around 0.4% with the best performance coming from the DAX (up 0.68%).