Lloyds shares down on 2012 losses

After revealing losses this morning, Lloyds shares have been performing badly. Mike van Dulken, Head of Research at Accendo Markets, said:

As with, RBS, markets not liking continued losses for taxpayer rescued banks which are on a drive to restructure and simplify themselves with a view to re-privatization but showing painfully slow progress. Another £1.5bn hit from PPI highlights continued struggle to shake off scandals and legacy issues and shareholders wondering how much higher the current bill can go (£6.8bn and counting). In contrast to RBS, there is no mention of release of government selling down its 40% stake nor dividends which likely remain well out of reach.

Lloyds stock has now sunk by 5.67 per cent:

(Source: Yahoo! Finance)