Mid-morning report: Stocks up

Stockhouse Editorial
0 Comments| February 22, 2013

The TSX composite was higher, rising 45.08 points to 12,685.05 in mid-morning trading on Friday. The Dow was gained 43.35 to 13,923.97, while NASDAQ rose 8.95 to 3,140.45.

On Thursday, after the markets closed, fertilizer giant Agrium Inc. (TSX: T.AGU, Stock Forum), reported quarterly net earnings of $354 million, or $2.34 per share, beating expectations of $2.02 a share.

The company is in a proxy fight with its largest shareholder, Jana Partners LLC, which holds a 6.5% stake in Agrium.

 It wants Agrium to split its retail division, which sells seeds, fertilizers and other products to farmers, from its wholesale segment. Agrium fell 6.07% to $102.15 in mid-morning trading.

Germany posted a 0.2% surplus for 2012 under official EU debt criteria, at the same time as Spain and France are set to miss debt goals.

The price of gold dropped US$2.80 to US$1,573.40 an ounce, while silver slipped US$0.17 to U$28.50 an ounce.

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