Shares in British banks were broadly up on the FTSE 100 in morning trading following news that unemployment fell in the three months to July.

The Office for National Statistics said that the number of unemployed people fell by 8,000 to 2.47 million in the three months to July, putting the unemployment rate at 7.8 per cent.

However the ONS also said that in August the number of people claiming unemployment benefits increased by 2,300 to 1.47 million.

By 10:05 shares in Lloyds Banking Group were up 0.21 per cent to 77.30 pence per share, RBS shares increased 0.10 per cent to 50.20 pence per share and HSBC shares rose 0.27 per cent to 678.00 pence per share.

Barclays shares however fell 0.65 per cent to 321.90 pence per share.

Overall the FTSE 100 was down 0.08 per cent to 5,563.07.