August 12, 2016 / 2:42 PM / a year ago

CANADA STOCKS-TSX slips as financials drop offsets resource gains

2 Min Read

* TSX falls 27.21 points, or 0.18 percent, to 14,768.85

* Seven of the TSX's 10 main groups move lower

TORONTO, Aug 12 (Reuters) - Canada's main stock index slipped on Friday as losses among financial stocks offset gains for resource companies and utilities.

Gold miners once again moved in the opposite direction of the broader index, while energy companies also gained as oil prices edged higher.

At 10:12 a.m. EDT (1412 GMT), the Toronto Stock Exchange's S&P/TSX composite index fell 27.21 points, or 0.18 percent, to 14,768.85.

It is on track for a 0.8 percent gain for the week, after ending last week at a one-year high.

The most influential movers on the index included Brookfield Asset Management, which fell 2.6 percent to C$44.64 after reporting its quarterly earnings.

The financials group slipped 0.6 percent.

Sun Life Financial will continue to pursue acquisitions through the remainder of 2016, potentially expanding further in Asia, the insurer's chief executive said on Thursday.

Its shares declined 0.4 percent to C$41.46.

Concordia International Corp shares declined 23.8 percent to C$16.2 after the healthcare company's earnings disappointed and it halted its dividend.

On the other side of the coin, the energy group climbed 0.4 percent, with Canadian Natural Resources up 0.6 percent to C$41.60.

Oil edged higher as a weaker U.S. dollar kept prices near the previous day's highs.

The greenback's losses, hurt by unexpectedly flat U.S. retail sales data, also helped push bullion higher.

Barrick Gold Corp added 1.4 percent to C$28.59, Goldcorp Inc rose 1.0 percent to C$24.85, and Kinross Gold advanced 2.6 percent to C$7.03.

The materials group, which includes precious and base metals miners and fertilizer companies, added 0.7 percent.

Seven of the index's 10 main groups were in negative territory.

Reporting by Alastair Sharp; Editing by Bernadette Baum

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