TORONTO: Canada's main stock index inched higher in morning trade on Monday, boosted by gains for materials stocks including fertilizer companies, while gold miners moved in both directions and railway stocks weighed.
At 9:51 a.m. ET (1451 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 9.16 points, or 0.06 percent, at 16,105.23.
Half of the index's 10 main groups were in positive territory, with advancers outnumbering decliners by a 1.4-to-1 ratio.
Potash Corp was up 1.4 percent to C$24.68 and Agrium Inc added 1.3 percent to C$138.27 as the two fertilizer companies move closer to a merger.
The materials group, which includes precious and base metals miners and fertilizer companies, added 0.6 percent.
The heavyweight energy and financials groups were both flat, while industrials fell 0.2 percent as Canadian National Railway Co slipped 0.4 percent to C$102.71.
Prometic Life Sciences Inc was up 7.1 percent at C$1.36 after a British health regulator gave one of its drugs a promising designation.
Shopify Inc added 2.4 percent to C$132.59 after the commerce software company was added to several S&P/TSX sub-indices.
Several gold miners advanced even as the price of bullion steadied, with Iamgold Corp up 4.0 percent to C$6.76 and Yamana Gold Inc rising 2.2 percent to C$3.23. Kirkland Lake Gold Ltd, meanwhile, was down 3.8 percent at C$17.24.
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