Banking shares dragged the UK's leading index lower in morning trading following results from Lloyds Banking Group which revealed a £570m loss for 2012.
The bank, reporting its full year numbers, said its PPI redress had cost it an additional £1.5bn in Q4 alone. Investors opted to dump the stock following the news, with Lloyds shares down 5.7% or 3.1p, at 51.37p. Peer Royal Bank of Scotland - which yesterday dropped 7% after its own results showing a £5.2bn loss in 2012 spooked the market - was also down a further 4% at 310.9p. Investors are selling out after a stellar run for the banks, which have both been among the top performers in the FTSE in 2012. Banking shares weighed on the index in morning trading, sending it 21.82 poi...
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