Lloyds' (LYG) 2012 pretax loss narrowed to £570M from £3.5B in 2011, with the bank's earnings hurt by the provision of £3.575B for the mis-selling of payment-protection insurance, including £1.5B in Q4. Lloyds' underlying profit jumped to £2.61B from £638M. The U.K. government reportedly plans to start selling its 39% stake in Lloyds when the bank's share price hits 61 pence, which is lower than previously thought. The stock was -6.3% at 51.06 pence at midday in London.
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