The London stock market edged back into positive territory on Wednesday, having slumped by almost two percent at the open following Donald Trump's U.S. election victory.

Mexicans bowed their heads in disbelief, the peso tumbled and the government prepared a response as Donald Trump, whose anti-immigrant rhetoric infuriated the country, won the U.S. presidential election.

At an American barbecue restaurant called Pinche Gringo in Mexico City, a festive mood turned somber as Mexicans and Americans rubbed their necks and could barely utter a word as they watched television networks confirming Trump's victories in key states against Democrat Hillary Clinton.

Dubai was to inaugurate a water canal Wednesday after a three-year construction project costing $735 million, in a fresh boost for tourism and commerce in the booming Gulf city state.

The Dubai Water Canal creates a 6.4-kilometre (four-mile) waterfront in the area running from the city's growing Business Bay commercial district to the Gulf.

India's government tried to quell the panic Wednesday caused by a bombshell decision to withdraw 500 and 1,000 rupee notes from circulation after cash machines ran dry and shares slid.

Share markets plunged Wednesday and the dollar tumbled against the yen and the euro as Donald Trump was elected US president, in a stunning upset with major implications for the world economy.

The Mexican peso also fell to a record low as safe-haven assets soared, with gold rising more than five percent and German government bonds rallying. Fears about the impact on financial markets led Japanese and South Korean authorities to call crisis talks.

Turkey's industrial output nosedived in September, the country's statistics office said, fueling fears that growth is contracting in the second half of the year in the wake of the failed July 15 coup.

The OPEC cartel warned Tuesday that the oil industry needs to step up investments to guarantee sufficient supply as low prices stimulate demand.

Iran signed a deal with France's Total on Tuesday to develop a major offshore gas field, its first big contract with a Western energy firm since the lifting of sanctions.

Wall Street stocks jumped more than 2 percent Monday as global markets rallied after the FBI cleared U.S. presidential candidate Hillary Clinton in an email probe.

Analysts described the gains as a relief rally in the final session before the U.S. vote Tuesday, on the presumption the FBI's announcement Sunday boosted the odds for Democrat Clinton, a clear favorite of investors over Republican Donald Trump. 

Coordination between members of oil-exporting cartel OPEC and non-member producers is "vital" to rebalance the market, OPEC chief Mohammad Barkindo said Monday.