(RTTNews) - Toronto stocks have gained on Monday and are on target for the best close in almost four weeks. Materials stocks are higher amid merger and acquisition news involving the major fertilizer-makers.

The S&P/TSX Composite Index has climbed 52.07 points or 0.45% to move at 11,557.18. The market gained more than 80 points last week.

Agrium (AGU.TO) rallied 7% after the company agreed to sell 50% of its Carseland nitrogen facility to Terra Industries for about $250 million in cash, to meet Canadian regulatory requirements in connection with its offer to acquire CF Industries Holdings.

Potash (POT.TO) has gained 6.1% amid further speculation the company may be sold to BHL Billiton.

Mining stocks have added 0.8%. Lundin Mining (LUN.TO) has jumped 5.5% after the stock was upgraded to Outperform from Neutral at Credit Suisse Group.

In other corporate news, Yamana Gold (YRI.TO) has added 0.4% after being upgraded to Outperform from Market Perform at BMO Capital, while its target price was upped to $15.50 from $14.50.

Enerflex (EFX-UN.TO) has soared more than 40% after receiving a buyout offer from Toromont Industries (TIH.TO). The cash and stock deal would be worth nearly $600 million. Toromont is up 3.3%.

QLT (QLT.TO) said it has restructured its agreement with Novartis Pharma AG to simplify the relationship, under which it will receive exclusive U.S. rights to the Visudyne patents to sell and market Visudyne in the U.S. The stock is down 2.4%.

After the bell, traders will peek across the border for the earnings reports from Apple (APPL) and Texas Instruments (TXN).

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Posted in Categories: Canada, Releases, Stocks, USA.

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