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, which rose C$3.33, or 1.4 percent, to C$239.00, while Agrium AGU.TO 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 said its quarterly earnings fell but still beat expectations.

All of the major Canadian banks rose, including Canadian Imperial Bank of Commerce CM.TO, 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)