Oil cut move fails to revive markets

Crude oil continues to stick around the $40 mark with traders concerned the cartel will not be able to reduce production quickly enough. The Dow Jones closed last night down 1.12% having recapped some of its morning loses to hover flat for most of the afternoon. The Nasdaq shed 17.38 points to 1,572.51. Apple was among the losers with shares down 6.3% after its downgrade by Oppenheimer. In the UK, the FTSE 100 opened slightly lower this morning as a rise in defensive stocks was outweighed by a fall in British Airways, which fell 4.36% after admitting merger talks with Qantas had stall...