UPDATE 2-Toronto stocks up as fertilizer shares rise again

Tue Jun 17, 2008 4:37pm EDT
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(Updates closing numbers, adds details, quotes)

*TSX jumps to record high close

*Pulled up by strong agriculture and energy stocks

*BCE higher after court delays ruling on buyout

TORONTO, June 17 (Reuters) - The Toronto Stock Exchange's main index notched a record high close on Tuesday, racking up its third session of triple digit gains as resource shares rose despite some softer commodity prices.

BCE Inc (BCE.TO: Quote) was up after the Supreme Court of Canada delayed a ruling on whether to approve or reject the C$34.8 billion ($34.1 billion) buyout of the telecom company. BCE closed up C$1.52, or 4.5 percent, at C$35.05.

Fertilizer producers Potash Corp of Saskatchewan (POT.TO: Quote) and Agrium (AGU.TO: Quote) led the way up amid worries over damage to crops in the U.S. Midwest following torrential rains and flooding. Corn prices were up sharply.

"They have a tremendous amount of concern about the viability of some key crops, which have pushed a lot of these commodities prices - most recently in the grain complex - to new or all-time highs," said Peter Chandler, senior vice-president at Canaccord Capital in Waterloo, Ontario.

That "has been driving some of the companies on our side of the market, but casting a sort of a pall over the U.S. market," Chandler said.   Continued...