Shares in British banks were down on the FTSE 100 in morning trading after the Office for National Statistics said that GDP growth in the second quarter was unchanged by its final estimate.

In its second estimate last month Q2 GDP growth was reported as being up 1.2 per cent, a figure which has been kept as it is by the ONS' third estimate.

However for the first quarter of the year GDP growth was revised slightly higher from 0.3 per cent to 0.4 per cent.

The annual rate of growth was kept at 1.7 per cent by the ONS figures.

By 09:50 shares in Lloyds Banking Group were down 1.37 per cent to 74.80 pence per share, RBS shares declined 1.74 per cent to 47.96 pence per share, Barclays shares dropped 1.77 per cent to 305.25 pence per share and HSBC shares fell 0.98 per cent to 654.40 pence per share.

Overall the FTSE 100 was down 1.09 per cent to 5,512.45.