NEW YORK - Shares of potash companies bucked the trend on Wall Street and rose as an analyst forecast gains from strong demand and limited supply of the fertilizer.
Goldman Sachs analyst Edlain Rodriguez said potash prices are rising, reflecting global demand and limited availability. On Wall Street, stocks declined as oil prices rose, and Alcoa Inc. posted a lower quarterly profit, which still topped expectations.
How shares of major potash companies fared Wednesday:
Potash Corp. of Saskatchewan Inc. rose $6.94, or 3.1 percent, to $221.47.
Mosaic Co. rose $6.23, or 4.8 percent, to $137.25.
Intrepid Potash Inc. rose $2.47, or 4.6 percent, to $57.50.
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