Potash Corp. leads fertilizer stocks on rampage
A string of positive developments have lit a fire under North American potash stocks with Potash Corp. of Saskatchewan leading the charge.
The industry bellwether has made investors almost $5 billion richer since Tuesday after an Indian bid for Belarus's state-owned producer valued that company at close to $30 billion. The news came after the EU's largest player said its profits could jump 40% over the next six months and disappointing corn harvests in the US boosted demand for the soil nutrient.
Potash Corp. dragged higher the whole sector which also saw the listing of a potash from waste firm on Monday.