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: Quote) and Agrium (AGU.TO: Quote), 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...