* FTSE 100 falls 0.6 percent, shrugs off GDP growth
* Banks slip, pressured by UBS results
* Miners, insurers fall but Reckitt Benckiser gains on SSL
By Simon Falush
LONDON, Oct 26 (Reuters) - Weaker financial and commodity stocks dragged Britain's top share index lower by midday on Tuesday as investors booked profits after sharp gains in the last two months.
Miners, which have added around 20 percent since the start of September, were the biggest weight on the index, with Anglo American dipping 1.8 percent and Rio Tinto down 1.2 percent.
"The market has had a good run since late August and it appears to be on an upward, sawtooth trend, and it seems this is one of those days where investors are booking profits after gains," said Peter Dixon, economist at Commerzbank.
By 1100 GMT, the FTSE 100 was 36.85 points, or 0.6 percent, lower at 5,715.13 after it added 0.2 percent on Monday. It is up over 9 percent since the start of September.
Banks were mostly weaker, pressured as uncertainty on the global economic outlook kept optimism on more cyclical equities in check, while a loss at UBS's investment bank also weighed on the sector.
Standard Chartered fell 1.1 percent while Barclays lost 1.3 percent.
The prospect of the U.S. Federal Reserve printing more money has helped push the UK's blue-chip index up over 9 percent since the start of September.
However, Fed officials have not been uniform in their comments about another round of quantitative easing, leading to some doubts in markets about how big such a programme will be. Kansas City Fed President Thomas Hoenig called more asset buys by the central bank a "very dangerous gamble".
BRITAIN'S GDP GROWTH
Such considerations appeared to have much more of an impact than domestic data as equities showed almost no reaction to data showing that Britain's economy grew twice as fast as expected in the third quarter of this year, though the pound gained.
Insurers were weaker, pressured by a note from BofA Merrill Lynch which downgraded the sector on valuation grounds after a strong run over the past few months. Standard Life fell 1.1 percent and Prudential lost 2.3 percent.
Cairn Energy top the list of laggards, shedding 6.4 percent after the oil explorer said one of its wells in Greenland did not result in a commercial discovery, and another failed to reach target depth before the end of the Arctic drilling season.
ARM Holdings was among the top fallers, down 5.6 percent as investors failed to react positively to solid third-quarter results from the chipmaker, with negative sentiment hitting the technology sector after Texas Instruments, which uses ARM designed chips, warned on its fourth-quarter revenue.
Reckitt Benckiser, by contrast, was a strong performer, up 0.7 percent after the British consumer goods firm won conditional EU regulatory approval late on Monday to purchase Durex condom and Scholl sandals maker SSL, boosting its presence in health and personal care.
The highlight of a batch of U.S. economic data due on Tuesday will be October's consumer confidence index, with an expected reading of 49.2, up from 48.5 in September. (Editing by Sharon Lindores)