CANADA STOCKS-Materials rally boosts TSX to 2-year peak

Wed Dec 29, 2010 5:05pm EST
 
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* TSX rises 66.01 points to 13,449.17

* Miners, fertilizer firms lead index higher

* Potash Corp surges 4.5 percent

* Baffinland flat after Nunavut Iron raises bid (Adds Baffinland bid, rare earth miners)

By Claire Sibonney

NEW YORK, Dec 29 (Reuters) - Toronto's main stock index rose on Wednesday, hitting a two-year peak on the back of a broad rally among miners and fertilizer companies, including Potash Corp of Saskatchewan POT.TO.

The materials group led the gains, advancing 2.2 percent, as copper climbed to record highs in Europe and gold edged above $1,400 an ounce.

Barrick Gold ABX.TO was up 2 percent at C$53.13, while Teck Resources TCKb.TO rose 2.6 percent to C$59.91.

Fertilizer producer Potash Corp jumped 4.5 percent to C$152.56, getting a boost from speculation that corn and soybean futures would rise further next year. Farm products company Agrium Inc AGU.TO shot 4.3 percent higher to C$90.22.   Continued...