CANADA STOCKS-TSX falls as Manulife, CP Rail weigh

Thu Aug 4, 2016 10:55am EDT
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(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.   Continued...