CANADA STOCKS-TSX rallies after BHP bids $39 bln for Potash Corp

Tue Aug 17, 2010 9:43am EDT
 
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TORONTO Aug 17 (Reuters) - Toronto's main stock index rose sharply shortly after the open on Tuesday after Potash Corp of Saskatchewan (POT.TO: Quote) rejected an unsolicited $38.6 billion bid for the company by BHP Billiton (BHP.AX: Quote) (BLT.L: Quote), which raised the prospect of a higher bid.

At 9:33 a.m. (1333 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE shot up 121.70 points, or 1.05 percent, to 11,674.46. It had opened down 0.13 of a point at 11,552.63. (Reporting by Jennifer Kwan; Editing by Jeffrey Hodgson)