UPDATE 4-Toronto stocks get big lift from resources

Wed Aug 6, 2008 5:13pm EDT
 
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(Adds details, quotes)

* TSX rebounds 1.6 pct after Tuesday's steep loss

* Resource sectors lead upside

* Agrium gains 5 percent after strong quarterly earnings

By Leah Schnurr

TORONTO, Aug 6 (Reuters) - The Toronto Stock Exchange's main index rallied more 200 points on Wednesday, spurred by a rebound in resource sectors and a strong quarterly profit from fertilizer firm Agrium.

The materials and energy groups provided the main impetus for the gains as investors returned to stocks that were battered in a steep selloff in the previous session.

The energy sector benefited from the rebound even though oil prices fell to a low near $117 a barrel before settling at $118.58. In Toronto, Canadian Natural Resources CNQ.TO gained 5.7 percent.

Agrium (AGU.TO: Quote) rose 5.3 percent after the world's third-largest nitrogen producer said profit more than doubled in the wake of surging demand and prices for fertilizer.   Continued...