>This phrase is running across the BBC web tickler at:
>http://news.bbc.co.uk. There's no linked article; not
>even sure what it means; uprising against Saddam?
>Against the U.S./British?
>
>Has anyone heard about this?
Hey, it was good for stox...
Doug
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Stocks Up on Unconfirmed Basra Reports 49 minutes ago
By Haitham Haddadin
NEW YORK (Reuters) - Stocks rallied at midday on Tuesday, as investors welcomed an unconfirmed report of an uprising against Saddam Hussein (news - web sites)'s forces in southern Iraq (news - web sites).
Market watchers said Wall Street had reacted positively to a Sky News report of an anti-Saddam uprising in Basra. However, a British military spokesman said he had no information on any uprising in the southern Iraqi city of Basra.
"There was a headline saying there was a popular uprising in Basra," said James Caron, fixed income strategist at Merrill Lynch.
"Who knows if it's going to be confirmed or if it's true. As far as the market is concerned right now they just got that headline and they are looking at it. That's helped the stock market and that's pushing bond prices lower," he added.
"Sky reports there's a popular uprising in Basra, where the military has had some difficulty," said Keith Keenan, vice president of institutional trading at brokerage Wall Street Access. "That's good news."
A U.N. spokesman said a top official of Saddam's Baath Party was captured in the city.
[...]