* TSX up 23.35 points, or 0.2 percent, at 12,772.12
* Two of the 10 main groups lower
* Potash Corp down more than 2 percent
(Adds details, quotes)
By Solarina Ho
TORONTO, Nov 15 Toronto's main stock index was
slightly higher on Monday morning as banks led a broad rebound
from Friday's selloff, but a decline by Potash Corp (POT.TO)
Potash shares were down 2.2 percent, at C$138.31 and the
biggest market mover. Fellow fertilizer producer Agrium Inc
(AGU.TO) slid 2.6 percent to C$79.55.
BHP Billiton (BHP.AX) scrapped its $39 billion takeover bid
for Potash, a move that came shortly after Canadian regulators
blocked the offer.
"It's going to be interesting to see how much the stock
drops," said John Kinsey, a portfolio manager at Caldwell
"It's a matter now to see whether the people that sold
because they didn't want to tender did the right thing or not.
So far it's looking pretty good for them."
At 10:33 a.m. (1533 GMT) The Toronto Stock Exchange's
S&P/TSX composite index .GSPTSE was up 23.35 points, or 0.2
percent, at 12,772.12.
Only two of index's 10 main groups were in the red. The
influential materials group, home to major miners, was down 0.9
percent. Health care stocks dipped a modest 0.04 percent.
Leading gains came from the the heavily weighted financial
group, which was up 0.5 percent, bolstered by the big banks.
Toronto-Dominion Bank (TD.TO) was ahead 0.9 percent at
C$73.30, while Royal Bank of Canada (RY.TO) rose 0.5 percent to
C$53.29. Manulife Financial (MFC.TO) climbed 1.5 percent to
Energy shares were up a modest 0.1 percent, helped by
rebounding oil prices. Pengrowth Energy Trust PGF_u.TO was
among the gainers, advancing 1.5 percent to C$12.63. Sector
gains were tempered by some big-name decliners, including
Encana Corp (ECA.TO), which was off 0.8 percent at C$29.18.
Gold miners also weighed on the index, despite a steady
bullion price near $1,365 an ounce after its biggest one-day
fall since July 1 on Friday.
"It's kind of one of those funny days where the golds in
particular aren't following the commodity ... they've been
lagging forever it seems."
Barrick Gold (ABX.TO) slid 0.9 percent to C$50.80 and
Goldcorp Inc (G.TO) eased 1.1 percent to C$46.35.
(Reporting by Solarina Ho; editing by Rob Wilson)