CANADA STOCKS-Fertilizer companies boost TSX, golds offset

Mon Oct 19, 2009 5:09pm EDT
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* TSX rises 0.29 percent to 11,538.39

* Potash Corp shares jump 5.7 pct on takeover speculation

* Bank of Canada interest rate announcement on Tuesday (Adds details, updates to the close)

By Ka Yan Ng

TORONTO, Oct 19 (Reuters) - Toronto's main stock index finished higher on Monday, lifted by speculation that Potash Corp of Saskatchewan (POT.TO: Quote) could be taken over.

Shares of Potash Corp rose more than 5 percent, leading all advancers, after a Bank of America Merrill Lynch research report touted the idea that Australian mining giant BHP Billiton (BHP.AX: Quote) (BLT.L: Quote) could afford to make an all-cash bid for the world's largest fertilizer maker. [ID:nN19132987]

Potash Corp stock ended up 5.7 percent at C$106.84.

Fellow fertilizer company Agrium (AGU.TO: Quote) gained 6.4 percent to C$58.90 after it agreed to sell part of a nitrogen fertilizer facility to Terra Industries TRA.N. [ID:nN19341430]

A retreat by gold-mining issues partly offset the gains made by the fertilizer companies, even though the price of gold pushed above $1,060 an ounce. Goldcorp (G.TO: Quote) fell 0.5 percent to C$43.80.   Continued...