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Mix-Ansicht- Sie sind so naiv - XERXES, 13.11.2002, 18:31
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--> Iraq accepts UN weapons inspections
Stocks jumps, crude falls on hopes war may be averted
By Allen Wan, CBS.MarketWatch.com
Last Update: 12:11 PM ET Nov. 13, 2002
NEW YORK (CBS.MW) - With the threat of war looming, Iraq agreed Wednesday to accept a U.N. weapons resolution that will return weapons inspectors after nearly four years.
U.S. stocks jumped on the news, with the blue-chip Dow industrials swinging from a loss earlier in the day to a gain of 72 points, or 0.9 percent, to 8,457. Read Market Snapshot.
Crude prices reacted even more violently, dropping to their lowest level in five months despite an unexpected 7 million barrel decline in last week's U.S. crude supplies. December crude traded at $24.85, down $1.05 on the New York Mercantile Exchange, its lowest since June. Read crude report.
The acceptance came in letter a delivered to Secretary-General Kofi Annan's office by Iraqi Ambassador to the U.N. Mohammed Al-Douri.
"The letter says that Iraq will deal with Security Council resolution 1441 despite its bad contents," said the Iraqi ambassador."We are prepared to receive the inspectors within the assigned timetable. We are eager to see them perform their duties in accordance with international law as soon as possible."
Analysts said that the Iraqi leader Saddam Hussein was pinned to a corner and the acceptance should not have come as a surprise.
"I think Saddam had no alternative...the history of the early 1990s showed a similar pattern," Terry Taylor, a former weapons inspector, told CNN.
Iraq's acceptance clears the way for the arrival of an advance team of U.N. inspectors on Monday.
The team will be led by U.N. chief inspector Hans Blix, who is in charge of biological and chemical inspections, and Mohamed ElBaradei, head if the International Atomic Energy Agency, which is in charge of nuclear inspections.
Dollar gains, airlines soar
Other markets were moving on the Iraq news as well as on Federal Reserve Chairman Alan Greenspan's testimony before Congress.
The dollar rose 0.6 percent versus the euro at $1.0055 and was up versus its Japanese counterpart at 120.25 yen. Earlier, the buck dipped to around $1.0095 and 119.87, respectively, following Greenspan's testimony to Congress, in which he said the economy continues to struggle, as businesses remain reluctant to invest in new equipment or hire more workers. Read full story.
Among sectors, airlines soared on the news as they would benefit from lower fuel prices and returning passengers. Shares in the defense sector, however, tumbled.
Allen Wan is a news editor for CBS.MarketWatch.com in New York. The Associated Press contributed to this report.
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