August 11, 2017 / 3:02 PM / in 4 months

CANADA STOCKS-TSX dragged lower by financials group, telecoms company Telus

(Updates prices)

* TSX down 46.87 points, or 0.31 percent, at 15,027.38

* Eight of the TSX’s 10 main groups move lower

TORONTO, Aug 11 (Reuters) - Canada’s main stock index lost ground on Friday, weighed by moves lower in financial stocks and a fall in shares of telecommunications company Telus Corp , which posted lower-than-expected quarterly earnings.

The index is on track for a 1.5 percent fall over the week.

The financials group slipped 0.6 percent, with Brookfield Asset Management Inc down 1 percent to C$48.43, extending losses after reporting earnings on Thursday, and Bank of Montreal lost 0.7 percent to C$92.34.

Telus was one of the most influential movers on the index, falling 1.4 percent to C$44.90.

At 10:16 a.m. ET (1416 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 46.87 points, or 0.31 percent, at 15,027.38. Eight of the index’s 10 main groups were in negative territory, although decliners only outnumbered advancers by a 1.3-to-1 ratio.

Auto parts maker Magna International Inc fell 1.5 percent to C$58.85 despite reporting better-than-forecast quarterly profit and raising its full-year sales forecast for the second time in three months.

Wheaton Precious Metals Corp fell 2.7 percent to C$24.8 after it reported lower-than-expected revenue after the close on Thursday.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 0.2 percent.

Enerplus Corp jumped 6.1 percent to C$11.42 after the oil and gas company increased its production guidance, while the broader energy group was little changed. (Reporting by Alastair Sharp; Editing by W Simon)

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