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Stock Market & Financial Investment News

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December 31, 2012
13:44 EDTAGU, MOS, POTFertilzer companies rise after joint venture reaches Chinese deal
Fertilizer makers are advancing after fertilizer marketing company Canpotex reached a deal to supply 1M tonnes of potash in the first half of 2013 to China's Sinofert Holdings, according to PotashCorp (POT). Canpotex is jointly owned by PotashCorp along with fellow fertilizer makers Agrium (AGU) and Mosaic (MOS). Under the agreement, Sinofert will pay $70 per ton less than its previous contract price with Canpotex, which was agreed to in March 2012. In a note to investors, Citigroup wrote that the contract price was somewhat lower than it had expected. Moreover, the firm remains cautious on the sector due to the uncertainty regarding demand in India and the possibility that there could be downward pressure on prices in other key markets. On the other hand, the deal between Canpotex and Sinofert creates a floor for global potash prices and provides some clarity on the market for early 2013, the firm added. Citigroup maintained Neutral ratings on shares of Potash, Mosaic and Agrium. In mid-afternoon trading, PotashCorp rose 2.44% to $40.74, Mosaic gained 2.17% to $56.41 and Agrium added 2.38% to $100.31.
News For POT;AGU;MOS From The Last 14 Days
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September 30, 2014
09:15 EDTMOSMosaic sees Q3 potash and phosphate sales at lower-end of previous outlook
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09:10 EDTMOSOn The Fly: Pre-market Movers
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09:04 EDTMOSMosaic reduces phosphate fertilizer production
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September 28, 2014
19:23 EDTPOTThis harvest could be trouble for Deere, Potash, Monsanto, Barron's says
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September 17, 2014
12:54 EDTPOTPotash would like to grow dividend over time
Comments made at the Credit Suisse Basic Materials Conference.

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