Well that didn't take long. Just an hour or so after Merkel, Hollande, Poroshenko, and Putin got together to drink tea in Minsk, they have a 'deal':
*RUSSIA, UKRAINE, GERMANY, FRANCE LEADERS READY DECLARATION TO REAFFIRM MINSK CEASE-FIRE DEAL: IFX
*JOINT DECLARATION IN SUPPORT OF UKRAINE'S TERRITORIAL SOVEREIGNTY
So - to summarize - they agree to a cease-fire (which saw 1000s killed and shelling continue last time) and to support Ukraine's territorial sovereignty (except of course Eastern Ukraine?) Face-saving headline-maker comes to mind. Stocks don't care though - they are buying it.