NUTRIEN SHARES FALL AFTER NARROWING 2020 PROFIT FORECAST

Shares of fertilizer maker Nutrien Ltd. fell sharply on Tuesday after it narrowed its fullyear profit forecast and said it has seen an improvement in market conditions globally, helped by higher crop and fertilizer prices. The Saskatoon-based company, the world's biggest fertilizer maker by capacity, on Monday also posted a net loss for Q3, hurt by an impairment charge of $823 million. The company said it now expects 2020 adjusted net earnings to fall in the range of $1.60 to $1.85 per share, compared with its previous forecast of $1.50 to $1.90. Nutrien shares closed down 8.1 per cent to $50.54 in Toronto. The company posted a net loss of $587 million, or $1.03 per share, for the third quarter ended Sept. 30, compared with a profit of $141 million, or 24 cents, a year earlier.