Fertilizer companies PotashCorp of Saskatchewan (POT) and Agrium (AGU) were among the biggest gainers by weight, boosted after Mosaic Co. (MOS) reported quarterly earnings that surged past expectations due to increased global demand and prices for phosphates and potash.
Mosaic is part of Canpotex, which handles potash exports from Saskatchewan for the company, as well as for Potash Corp and Agrium. Early Friday morning, Potash shares were trading 4% higher, at C$7.20, to C$175.87, while Agrium was up almost 5%, to C$69.96. Mosaic shares were up 11% at C$115.88.
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