U.S. markets push higher Tuesday
NEW YORK, Dec. 14 (UPI) -- U.S. markets pushed higher Tuesday morning after the U.S. Census Bureau reported retail sales up 0.8 percent in November, slightly more than expected.
Sales rose 0.8 percent over October and 7.7 percent above November 2009. The Bureau of Labor Statistics, in a separate report, said the Producer Price Index rose 0.8 percent in November, accelerating from 0.4 percent in October.
In late morning trading, the Dow Jones industrial average added 55.40 points, 0.48 percent, to 11,483.96. The Standard & Poor's 500 index gained 3.51 points, 0.28 percent, to 1,243.97. The Nasdaq composite index gained 7.77, 0.30 percent, to 2,632.68.
The benchmark 10-year treasury note fell 21/32 to yield 3.36 percent.
The euro was unchanged from Monday at $1.3392. Against the yen, the dollar rose to 83.47 yen from Monday's 83.44 yen.
In Japan, the Nikkei 225 index rose 0.22 percent, 22.88, to 10,316.77.
Russia, EU, trolling for Moldova influence
BRUSSELS, Dec. 14 (UPI) -- Swedish Foreign Minister Carl Bildt said the European Union could best help politically divided Moldova with a free trade agreement.
Elections in Moldova on Nov. 28 ended with a split decision, the pro-EU coalition, led by the Liberal Democratic Party, won a majority, but fell two parliamentary seats short of what is needed to elect a president, the EUobserver reported Tuesday.
After returning from a trip to the Moldovan capital, Chisinau, Bildt said, "If you look at what the Moldovan economy needs, it is deep and comprehensive free trade with the EU. That is what can over time lead to a better development of what is today the poorest country in Europe."
Bildt said a trade agreement would support "necessary reforms."
Earlier, it was reported that Russia sent its own mission to Chisinau, headed by President Dmitry Medvedev's Chief of Staff Sergey Nariskin.
Sergey reportedly attempted to make a deal offering Moldova cheap rates for energy imports in exchange for a parliamentary coalition centered on the pro-EU rival Communist Party.
Leaked diplomatic cables indicated Democratic Party leader Marian Lupu, a former communist, was offered $10 million to return to the Communist Party and campaign against the Moldovan Alliance for European Integration.
Rosneft, in executive sweep, hires a spy
MOSCOW, Dec. 14 (UPI) -- Russian oil giant Rosneft is undergoing a sweeping management change that includes hiring former spy Andrei Berzukov, sources told The Moscow Times.
Berzukov, who was part of an international spy swap with the United States in July, has been hired as an adviser to Rosneft president Eduard Khudainatov, the Times reported Tuesday.
The company said in a statement, "If we want to raise the company's effectiveness, we have to attract highly qualified specialists and implement staffing changes. It's impossible to say exactly when this process will be completed."
Last week, Khudainatov fired three company deputies, the director of Krasnodar Oil and Gas and the Krasnodar regional manager.
Industry analyst Konstantin Umanov at Rye, Man & Gor Securities said Khudainatov is not seeking to change the direction of the company, but to "maintain efficiency and keep Rosneft's leading position in terms of production costs per barrel."
Retail sales rose modestly in November
WASHINGTON, Dec. 14 (UPI) -- U.S. retail sales and food service sales rose 0.8 percent in November compared to October, the Commerce Department said Tuesday.
Retail and food service receipts rose 7.7 percent above November 2009, following a 7.3 percent annual increase a month ago.
Sales at automobile dealerships rose 12.8 percent from a year ago, but fell 1 percent compared to October. Gasoline station sales, helped by higher gasoline prices, rose 9 percent from a year ago and 4 percent over October sales, the report said.
Non-store sales, which includes catalog and Internet sales, rose 14.2 percent from October 2009 and 2.1 percent above the prior month.
Also posting a double digit annual increase, sales at sporting goods, hobby and music stores rose 12.3 percent from a year ago.
