UPDATE 1-Toronto stocks jump as fertilizer producers gain

Mon Jun 16, 2008 10:29am EDT
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* Toronto index jumps 100 points

* Fertilizer producers lead the way

TORONTO, June 16 (Reuters) - Toronto's main stock market index jumped more than 100 points on Monday morning as big fertilizer producers were encouraged by record corn prices, while energy issues climbed on the back of firm U.S. crude oil.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 124.43 points, or 0.8 percent, at 14,902.89. Earlier it touched a high of 14,921.25.

Seven of the TSX index's 10 main groups were higher, led by a 1.9 percent boost from the materials group, which includes fertilizer companies, and a 0.8 percent rise in the heavyweight energy group.

Fertilizer producers Potash Corp POT.TO and Agrium AGU.TO were in the spotlight after the price of corn surged to a new high as widespread flooding in the U.S. Midwest heightened concern about tight supplies.

Demand for fertilizer ingredient potash has soared along with rising grain prices.

Potash Corp rose C$2.81 to C$234.93 and Agrium was up C$1.95 at C$108.41.   Continued...