Lloyds

AXA IM's Nigel Thomas has added to his position in wealth manager St James's Place, whose shares have fallen 4% today as Lloyds Banking Group placed a 20% stake in the business into the market.

Lloyds has put a 20% stake in wealth manager St James's Place up for sale, the bank confirmed this afternoon.

Banking stocks continued to pull back the FTSE 100 on Monday, as the losses announced by Lloyds Banking Group last week continued to dog the group and its peers.

Scottish Widows Investment Partnership (SWIP) has seen outflows of £6.6bn from the business in 2012, after investors opted to move out of its insurance products.

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.

Lloyds Banking Group reported a loss for the full year to December 2012, much lower than the heavy losses seen the previous year, as reports suggest the UK government is gearing up to sell its stake in the bank.

Moody's has cut its rating on the guaranteed debt of Barclays and Lloyds following the downgrade of the UK's credit rating last week.

Pressure is mounting on the boss of Lloyds to give up his bonus after the bank was rocked by yet another hit relating to a mis-selling scandal.

The Financial Services Authority (FSA) has fined three Lloyds Banking Group firms a total of £4.3m for failings that resulted in up to 140,000 customers receiving delayed payment protection insurance (PPI) redress.

British banks that fail to separate their retail banking from their riskier investment banking arms may be forcibly dismantled, Chancellor George Osborne will say later today.