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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (12565)	2/4/2003 1:17:26 PM
From: stockman_scott	Respond to of 89467

13:05 ET Market Summary U.S. equities took their lead this morning from price weakness in European stocks (Germany -4.3%, France -3.2%, UK -2.7%) and surge in gold. Being blamed for the rotation out of global equities is renewed focus on Iraq ahead of Colin Powell address of U.N. Security Council tomorrow. Powell has said he will provide sober and compelling proof that Iraq is hiding weapons from inspectors. Gold has moved to an almost 7-yr high ahead of the speech, and the dollar has come under pressure. AIG (-9%) has been the other major story. Insurer's decision to take a $1.8 bln charge against reserves has led to estimate cuts and at least one downgrade. More important, it has caused investors to distance themselves from the insurance group (MBI -5%, AEG -4.7%, XL -4.7%, HIG -4%).