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Manulife Financial stock drops as BMO downgrades on weaker Q1

Manulife head office building in Toronto, Canada.

JHVEPhoto/iStock Editorial via Getty Images

Manulife Financial (NYSE:MFC) shares are falling nearly 9% in Thursday morning trading, as BMO analyst Tom MacKinnon downgraded the Canadian insurer to Market Perform from Outperform.

MacKinnon specifically pointed to the firm's disappointing disclosure on IFRS

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