Toronto stocks open up on financials, materials

Tue Jun 17, 2008 9:52am EDT
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TORONTO, June 17 (Reuters) - The Toronto Stock Exchange's main index climbed on Tuesday shortly after trading began, propelled by gains in fertilizer firms and financials.

The S&P/TSX composite index .GSPTSE was up 87.00 points, or 0.58 percent, at 15,031.28.

The materials sector added 0.9 percent, with help from Potash Corp of Saskatchewan (POT.TO: Quote), which rose C$3.33, or 1.4 percent, to C$239.00, while Agrium (AGU.TO: Quote) was up C$2.20, or 2 percent, at C$110.50.

The financials group, making up about a third of the index's weighting, gained 0.9 percent, after Goldman Sachs Group (GS.N: Quote) said its quarterly earnings fell but still beat expectations.

All of the major Canadian banks rose, including Canadian Imperial Bank of Commerce (CM.TO: Quote), which climbed C$1.03, or 1.6 percent, to C$65.88. ($1=$1.02 Canadian) (Reporting by Leah Schnurr; Editing by Bernadette Baum)