UPDATE 1-Toronto stock index up 100 points despite weak oil

Tue Jun 3, 2008 11:09am EDT
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* Toronto stocks jump 100 points after opening lower

* Materials and energy shares lead way higher

* Potash Corp up 3.9 pct

TORONTO, June 3 (Reuters) - Toronto's main stock market index climbed more than 100 points at midmorning on Tuesday, boosted by rises in fertilizer producers Potash Corp and Agrium Inc, while oil shares also contributed despite falling oil prices.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 100.97 points, or 0.7 percent, at 14,915.15.

Six of the TSX index's 10 main groups were higher, led by a 1.8 percent boost in the resource-heavy materials group and a 0.7 percent rise in energy shares.

Potash Corp POT.TO led all stocks higher with a gain of C$8.22 to C$211.59. Agrium Inc AGU.TO rose C$4.06 to C$91.40.

"The Canadian market has largely been captivated (over the past few months) by what is happening in oil and to some extent fertilizer and other commodities and it's the same today," said Michael Sprung, president of Sprung and Co Investment Counsel.   Continued...