Market Roundup (POT, MOS, AGU, AAUKY.PK, XSRAF.PK, BHP, SVU, TM)
Potash makers have jumped today after Potash Corp (NYSE: POT) projected a sharp rise in demand for the soil nutrient this year. POT expects record North American sales and strong exports during the current quarter. The news has also driven up Agrium (NYSE: AGU) and Mosaic Company (NYSE: MOS).
Surging demand and prices in Asia has prompted BHP Billiton (NYSE: BHP), Anglo American (OTC: AAUKY.PK) and Xstrata (OTC: XSRAF.PK) to ship coal to China from their Colombian mine. The joint venture may also enter the Indian market this year.
Supervalu (NYSE: SVU) shares received a boost following rumors of a leveraged buyout. The stock soared as much as 11% before settling back when traders failed to find the source of the rumor.
Toyota’s (NYSE: TM) US sales have bounced back due to its 0% incentive plan. The plan has lifted TM’s market share from 12.8% to 16.8%. According to a report on Edmunds, “Toyota’s daily retail sales rate is running at about 47% higher than that of the same period last year and about 71% higher than that of last month.”
