Bloomberg reports that Canadian stocks rose for the first time in four days and Potash Corp. of Saskatchewan Inc. (TSE:POT) surged.
The market news is quoted as saying:
Potash Corp., the world’s largest fertilizer producer by market value, rallied 2.8 percent after Horst Hueniken, an analyst at Stifel Financial Corp., said the shares should touch $175 in the next 12 months. Ivanhoe Mines Ltd., which is building a copper and gold mine in Mongolia with Rio Tinto Group, jumped 8.1 percent as copper advanced. Toronto-Dominion Bank, Canada’s second-largest lender by assets, increased 1.5 percent as economists forecast an increase in consumer confidence and faster economic growth in the U.S.