August 4, 2016 / 2:57 PM / a year ago

CANADA STOCKS-TSX falls as Manulife, CP Rail weigh

2 Min Read

(Adds details from earnings reports, updates prices)

* TSX down 34.45 points, or 0.24 percent, to 14,477.60

* Six of the TSX's 10 main groups fall

TORONTO, Aug 4 (Reuters) - Canada's main stock index fell on Thursday as shares of insurer Manulife Financial Corp plunged after poor earnings and the exit of a major investor hurt Canadian Pacific Railway stock.

Manulife, Canada's biggest life insurer, fell 5.5 percent to C$16.93 after its lower profit missed expectations and it warned of an impending charge while keeping its dividend steady.

The heavyweight financials group slipped 0.8 percent.

Canadian Pacific declined 3.7 percent to C$185.37, after billionaire investor William Ackman's hedge fund sold its roughly $1.5 billion stake in the railway.

At 10:24 a.m. EDT (1424 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 34.45 points, or 0.24 percent, to 14,477.6.

Six of the index's 10 main groups were in negative territory, amid a slew of earnings releases.

Canadian Natural Resources Ltd fell 1.7 percent to C$38.77 after reporting a smaller quarterly loss as lower expenses helped offset a slump in crude prices.

Earnings beats helped engineering company SNC-Lavalin Group Inc rise 2.6 percent to C$57.33 and retailer Canadian Tire Corp Ltd gain 1.2 percent to C$138.68.

BCE Inc rose 0.5 percent to C$62.11 after Canada's largest telecommunications company notched strong growth in wireless.

Stock exchange operator TMX Group Ltd rose 3.7 percent to C$60.86 after reporting a more than doubling of second-quarter profit late on Wednesday.

Agrium fell 2 percent to C$115.25 after recording a 16 percent profit drop and lowering its profit guidance for the year.

Reporting by Alastair Sharp; Editing by Bernadette Baum

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