Shares in British banks were down on the FTSE 100 in morning trading following strong gains in European shares yesterday.

On Monday European shares reached a 29 month high after strong performances from U.S. shares on Friday and from Asian shares.

By 09:35 shares in Lloyds Banking Group were down 0.73 per cent to 64.10 pence per share, RBS shares declined 1.13 per cent to 43.72 pence per share, Barclays shares fell 1.37 per cent to 308.45 pence per share and HSBC shares dropped 0.35 per cent to 703.50 pence per share.

Overall the FTSE 100 was down 0.15 per cent to 6,041.74.