August 17, 2010 / 1:44 PM / in 8 years

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

TORONTO, Aug 17 (Reuters) - Toronto’s main stock index rose sharply shortly after the open on Tuesday after Potash Corp of Saskatchewan POT.TO rejected an unsolicited $38.6 billion bid for the company by BHP Billiton (BHP.AX) (BLT.L), 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)

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