FTSE looks set to make loss over the week

London's leading shares have made modest gains but looked set for a decline over the week as the FTSE 100 Index remained below the high point set on Monday.

Investors appeared content to consolidate gains from the Footsie's recent run of strength. There was no help from GDP figures which showed economic growth unchanged at 0.3% in the second quarter.

The blue-chip Footsie was 13.5 points higher by mid-morning at 4237 following a positive finish on Wall Street overnight.

In London, WPP was the most prominent among the movers as it recovered earlier losses to rise 6p to 576p, despite reporting lower revenues and profits in the first half.

Investors were cheered by upbeat comments from the advertising industry leader which stuck by hopes for a market recovery next year.

Financial stocks were also strong risers with HBOS taking the lead with a 10.5p gain to 738.5p, closely followed by Royal Bank of Scotland which rose 20p to 1629p.

On the upside, InterContinental Hotels jumped 3.75p to 512.75p with the news that it plans to sell prestigious London May Fair Hotel in a deal worth £115 million.

Outside the Footsie, construction services group Keller lost earlier gains to stand a penny lower at 249p after failing to meet ambitious growth targets in the first half.

But the company did look to reassure investors by saying it remained confident of achieving strong annual growth.

Energy group International Power slipped almost 4% or 5.75p to 148.75p as Anglo-Australian mining group BHP Billiton tabled an offer trumping its bid for Drax, the UK's biggest power station in North Yorkshire.