CANADA STOCKS-TSX higher on energy issues, Potash

Mon Dec 21, 2009 10:48am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

 * TSX rises 0.8 percent to 11,554.84
 * Potash up after Goldman adds to conviction buy list
 (Adds details, comments)
 By Irene Kuan
 TORONTO, Dec 21 (Reuters) - Toronto's main stock index rose
on Monday morning as stronger oil prices lifted the weighty
energy sector, while Potash Corp of Saskatchewan (POT.TO: Quote) also
contributed to the gains.
 Potash Corp was the top gainer on the index, up 3 percent
at C$115.30, after Goldman Sachs had added the fertilizer maker
to its conviction buy list. [ID:nSGE5BK0DN]
 "They (Goldman Sachs) feel that in 2010 that the
agricultural stocks will do quite well. I also feel that way,"
said Ian Nakamoto, director of research at MacDougall,
MacDougall & MacTier.
 Oil prices held firm above $73 a barrel on Monday after a 1
percent rise in the previous session, while base metal prices
were also higher, helping boost mining shares. [O/R] [MET/L]
 Canadian Natural Resources (CNQ.TO: Quote) rose 1.6 percent to
C$72.46, while Suncor Energy (SU.TO: Quote) was up 1.3 percent at
C$36.22. First Quantum Minerals (FM.TO: Quote) climbed 2.1 to
C$79.74.
 At 10:16 a.m. (1516 GMT), the S&P/TSX composite index
.GSPTSE was up 91.44 points, or 0.8 percent, at 11,554.84
 ($1=$1.06 Canadian)
 (Reporting by Irene Kuan; editing by Rob Wilson)