Wall St indexes fall, late oil spike hits futures

(Reuters) - U.S. stocks fell on Tuesday after a weak consumer confidence report fueled concerns the housing slowdown may spread to the broader economy and hurt corporate profits.

After the closing bell, U.S. crude oil futures spiked over $5 a barrel on concerns about Iran, sending U.S. stock futures sharply downward in electronic trading.


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Sudan top target for Chinese investment in Africa

(Reuters) - The biggest target for Chinese investment in Africa is Sudan, the oil-producing country facing mounting international pressure over rights abuses in Darfur, according to figures released by a U.N. agency on Tuesday.

The U.N. Conference on Trade and Development (UNCTAD) said Sudan received $351.5 million in Chinese direct investment in 2005, the latest period for which data was available, making it Beijing's ninth-largest target for such flows worldwide.


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Morocco's largest fund CDG 2006 profit up 50 pct

(Reuters) - Morocco's largest fund Caisse de Depot et de Gestion (CDG) posted a 50 percent increase in net profit for last year, its managing director said on Tuesday.

Net profit rose to 2.48 billion dirhams in 2006 from 1.66 billion in 2005, Mustapha Bakkoury told a news conference.


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Gold at 4-week high on oil, eyes Bernanke testimony

(Reuters) - Gold prices rose to their highest level in almost four weeks on Wednesday, in sympathy with surging crude oil which raises the metal's allure as a hedge against inflation.

Spot gold rose as high as $668.80 an ounce and was at $665.20/666.20 by 0144 GMT, higher than $662.90/663.90 late in New York on Tuesday.


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Asian Stocks Fall on U.S. Economy Concern; Honda, Samsung Drop

Asian stocks were set for the first back-to-back drop in two weeks, led by companies that sell to the U.S. after consumer confidence and home prices fell in the region's largest export market.
Honda Motor Co., which had more than half of its sales in the U.S. and Canada last fiscal year, and Samsung Electronics Co. fell.

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Bear Stearns upgrades Martha Stewart, shares rise

(Reuters) - He raised his rating on the stock to "peer perform" from "underperform."

Meltz cited Martha Stewart's planned merchandising ventures with other companies in 2007 including paint at Lowe's Cos. Inc. , crafts at Michael's and home products at KB Studios.


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UPDATE 2-Delta Air sees profit swing, lower debt

(Reuters) - NEW YORK, March 27 - Delta Air Lines Inc. , which plans to emerge from bankruptcy in late April, said on Tuesday it expects to swing to a profit this year on cost reductions and higher revenue.

It also plans to slash debt and generate billions in cash flow.


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