Banks among the losers after growth slows | Business

Banks and financial stocks fell in morning trading after official data showed a slowdown in economic growth.

Gross domestic product in the UK rose 6.6 per cent in July compared to the previous month. That was slower than the 8.7 per cent growth recorded in the previous month, according to data published by the Office for National Statistics.

Legal & General lost 3½p, or 1.7 per cent, to 195¾p; Barclays fell 1¾p, or 1.7 per cent, to 103¼p; Lloyds Banking Group shed½p, or 1.6 per cent, to 26p.

The FTSE 100 was steady as investors took a cautious stance amid the continuing Brexit negotiations and a tech-related sell-off on Wall Street overnight. The blue-chip index added 16.22 points, or 0.3 per cent, to 6,019.54 in