UPDATE 2-Toronto stocks rally as commodities push higher

Wed May 28, 2008 2:05pm EDT
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* Key index rises 100 points in afternoon rally

* Fertilizer producers lead the way

* Bank issues mixed

TORONTO, May 28 (Reuters) - Toronto's main stock market index staged a mid-afternoon rally on Wednesday, helped by buoyant materials and energy shares.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 115.19 points, or 0.8 percent, at 14,637.65.

Eight of the TSX index's 10 main groups were higher, led by a 1.2 percent climb in the resource-heavy materials group and a 0.5 percent boost from the energy group. Heavily weighted financial shares added 0.6 percent.

The rebound comes one day after the index dropped 236.44 points, or 1.6 percent, to 14,522.13.

The country's top fertilizer producers Potash Corp (POT.TO: Quote) and Agrium (AGU.TO: Quote) were leading the way higher. Potash Corp was up C$6.01 at C$195.00 and Agrium added C$2.93 to C$84.25.   Continued...