UPDATE 4-Toronto stocks spring up on fertilizer firms, RIM

Mon Jun 16, 2008 5:12pm EDT
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*TSX climbs 1 percent in broad rally

*Fertilizer producers boosted by record high corn prices

*Research In Motion rises after Nokia unveils new phones

By Leah Schnurr

TORONTO, June 16 (Reuters) - The Toronto Stock Exchange's main index rose broadly and sharply on Monday in a rally sparked early in the day by record commodity prices and sustained later by gains in the financial and tech sectors.

A record high for corn prices amid widespread flooding in the U.S. Midwest pushed up shares of fertilizer companies Potash Corp of Saskatchewan POT.TO and Agrium AGU.TO, making them among the biggest gainers on the benchmark.

Potash Corp was up C$3.55, or 1.5 percent, at C$235.67, while Agrium rose C$1.84, or 1.7 percent, to C$108.30, helping push Toronto's materials group up 1.7 percent.

Tech heavyweight Research In Motion RIM.TO also lent its support, jumping C$7.42, or 5.4 percent, to C$144.21. Nokia NOK1V.HE unveiled two new business phones, but investors did not see the offerings as a threat to RIM's BlackBerry.   Continued...