FTSE 100 closed the day near flat, but down a tad, as the premier index was weighed on by disappointing earnings and a stronger pound.
The blue-chip index closed down 0.89, or 0.01% at 7,246.
The FTSE 250 by contrast gained over 149 points at 19,802.
The minister responsible for Britain's exit from the EU, David Davis said the UK would lead a "global race to the top" and sought to quell fears, supposedly, by saying post Brexit Britain would not look like a Mad Max movie.
"Broadly speaking it has been a positive day in Europe, but the FTSE 100 has been held back by corporate updates from a couple of influential stocks," said David Madden, at CMC Markets,
"The London equity benchmark suffered by comparison, as results that didn't measure up to analyst expectations weighed on overall market. Eurozone stock pushed higher as optimistic return, and the softer euro helped fuel the upward move."
Top loser was BHP Billiton plc (LON:BLT), which shed 4.58% to 1,490.4p, despite it having an impressive first half but one which saw profits failed to meet market expectations.
Top gainer on Footsie was Evraz plc (LON:EVR), which added 5.02% to 432.70p.
The FTSE 100 significantly narrowed the day's earlier losses, and looked as though it may even end the day flat.
Changing hands at 7,233, the blue-chip index was down 14 points or 0.2%. At the same time the FTSE 250 had turned positive, gaining 136 points or 0.7% to trade at 19,787.
In New York, the Dow Jones was down 132 points or 0.53% to 25,086 and the S&P 500 was down 0.22% to 2,726, whereas the Nasdaq was in plus territory albeit only slightly to trade at 7,243.
There's an awful lot of noise around David Davis and his latest Brexit speech, in which he attempted to reassure (by denying that Brexit could throw Britain into a 'Mad Max' style dystopia) whilst also claiming that the UK would lead a "global race to the top".
Davis suggested that a Brexit deal could be done by the end of this year.
"David Davis is right that the EU and UK start from a unique position, with a highly integrated market and closely aligned standards," said Stephen Jones, chief executive of industry group UK Finance.
"It should be entirely possible to use this as the basis for an ambitious Free Trade Agreement that benefits businesses and consumers on both sides of the Channel."
Jones added: "The UK finance sector does not want to see any weakening of current regulatory standards, which are a key source of competitive strength. The UK is and should always seek to be the safest and most transparent place for banking and other financial service providers to do business."
On the day that Bank of England boss Mark Carney dismissed Bitcoin, saying that it has "pretty much failed" as a currency - the value of the cryptocurrency added another US$382 or 3.42% to change hands at US$11,541.
Carney, at a discussion at London's Regent's University, said that Bitcoin couldn't be considered to be a "store of value" like an actual currency because the volatile price has been "all over the map".
While Bitcoin continued to strengthen on Tuesday, the price of the Ethereum digital currency rose 0.85% and the Ripple XRP token was down 0.85% to US$1.14.
The FTSE 100 was down 16 points, 0.22%, changing hands at 7,231 as a number of heavyweight portfolio stocks struggled.
Expectation missing HSBC Holdings Plc (LON:HSBA), down 28p or 3.6% trading hands at 733p, soured sentiments towards the banking sector ahead of Lloyds Banking Group Plc (LON:LLOY) results tomorrow.
"The good news is that HSBC's remarkable recovery story is still on track. The less good news is that the lender has again bungled communication of sensitive albeit cogent intentions," said Ken Odeluga, analyst at City Index.
"The upshot is that whilst HSBC's underlying performance matched expectations in its 2017 financial year, a lack of prior guidance on the impact of U.S. tax reform and about new capital has nixed chances that the stock could see its first rise in 2018, for now."
BHP Billiton plc (LON:BLT), down 68p or 4.38% at 1,493p, also disappointed with its results this morning and the industry read through saw Rio Tinto Plc (LON:RIO) lower too, with the share down 54p or 1.33% at 4,001p.
Intercontinental Hotels Group (LON:IHG), which revealed that no additional capital would be paid out to investors in 2018, saw its shares pull back 186p or 3.96% at 4,511p.
Following on from yesterday, when it reported financial results, consumer products firm Reckitt Benckiser Plc (LON:RB), down 180.85p or 2.98% at 5,895p.
Drugs makerShire Plc (LON:SHP) was down 57p or 1.83% trading at 3,053p, whereas GlaxoSmithKline plc (LON:GSK) was on the front foot, up 14p or 1.07% to 1,322p.
Steel and mining group Evraz plc (LON:EVR) added 16.5p or 4% to trade at 428p.
Oil major BP Plc (LON:BP) climbed 1.9p or 0.4%, to 475.95p, while Royal Dutch Shell Plc (LON:RDSB) edged only slightly higher.
Building materials firm CRH PLC (LON:CRH) gained 41p or 1.67%, up to 2,499p.
Stock market bulls will find little reassurance as they turn attentions over to Wall Street ahead of the New York open.
The Dow Jones was indicated down 150 points in futures trading, at 25,086, while the S&P 500 and Nasdaq are also pointing lower as US trader get ready to play catch up after Monday's Presidents' Day public holiday.
Back in London, the FTSE 100 was still on the back foot down 15 points or 0.2% changing hands at 7,233. The FTSE 250, meanwhile, dipped 0.21% to 4,027.
Aside from the morning's financial results, the stock market is also being steered by forex - with the British pound boosted by rumours that the UK may find some relief in Brexit negotiations.
Specifically, there are reports that the UK could be given a 'privileged single market access' to the European Union.
"The Brexit negotiations thus far have been frustrated in no small part by the EU adopting a stern stance and ceding very little ground to the UK," said David Cheetham, analyst at online broker Xtb.
"The latest developments however reveal some possible cracks in this hardline approach and are the clearest sign yet that the bloc may accept preferential terms as far as trade is concerned post-Brexit.
The analyst added: "The market reaction to the news was clearly positive for the Pound with the currency jumping as soon as the reports hit the wires and moving back above the 1.40 handle against the US dollar."
Given the benchmark's bias toward dollar earning multi-national companies, the stronger pound is not necessarily conducive to FTSE 100 growth.
The FTSE 100 was down 25 points, 0.35%, changing hands at 7,222.
The FTSE 100 was on the back foot through Tuesday Morning as the market came to terms with a number of disappointing financial results.
Changing hands at 7,213 the index of London's top 100 shares was down 35 points or 0.49%.
Most notably, HSBC's expectation missing results precipitated selling across the banking sector. At around 10:00am, HSBC shares were down 33 point or 4.4% at 727p.
The negatively flowed down to Lloyds Banking Group Plc (LON:LLOY), Barclays Plc (LON:BARC), and Royal Bank of Scotland (LON:RBS) - albeit the far more UK focussed banks are by no means like-for-like peers of HSBC.
Instead, the HSBC results are making investors bristle with caution ahead of Lloyds results due tomorrow, which are followed by Barclays on Thursday and RBS on Friday.
Asia focussed Standard Chartered PLC (LON:STAN) shares, meanwhile, dipped 4p or 0.5% to trade at 814.9p.
Fiona Cincotta, analyst at City Index, who reckons the HSBC sell off may be overdone, said: "with interest rates set to increase, the outlook or the bank remains encouraging, performance in Asia has been exceptional, with pre-tax profits up 89.3% from a year earlier in the region.
"This bank is in better shape than most is competitors, yet it remains undervalued in the sector."
Although there were hopes for positivity in pre-market, London's FTSE 100 again marked trades in negative territory immediately following Tuesday's open.
In truth, the blue-chip index is essentially flat as the session gets underway. At around 8:10 am the index was changing hands only a few points higher at 7,253.
The FTSE 100 is in something of a technical no-man's land, according to chartists, with the bulls looking for a break above the 7,270 level whereas bears seek a drop beneath 7,235.
HSBC Holdings (LON:HSBA) and BHP Billiton plc (LON:BLT) were the morning's obvious standouts, as far as corporate news is concerned, with both releasing financial results.
The former, revealed that full year profits more than doubled on another strong performance in Asia but results missed analysts' expectations. Pre-tax profit surged 141% to US$17.2bn in 2017 from US$7.1bn a year earlier when the bank incurred a string of one-off costs, including the sale of its Brazil business.
Mining giant BHP, meanwhile, delivered what is being described as its strongest half year performance since 2015 - supported by improved commodity prices.
Nonetheless, the miner's bottom line was lower than analyst expectations.
Both blue-chip stocks fell in Tuesday's opening deals. HSBC dropped 21p or 2.76% to trade at 739p while BHP lost 48p or 3.07% to change hands at 1,512.6p.
Orosur Mining Inc (LON:OMI) has intercepted good gold grades in recent drilling on its Anza project in Colombia, which have helped validate its geological model. The company also said it is currently mining through a higher cost area at its San Gregorio mine in Uruguay.
Futura Medical PLC (LON:FUM) has a new finance director, with Angela Hildrith joining the company to replace Derek Martin, who has left the company. Hildrith will join the board as a director and will also be chief operating officer.
Waste-to-Energy specialist PowerHouse Energy Group Plc (LON:PHE) has inked a new deal with Wrightbus Ltd, a company that build innovative hydrogen powered buses. The memorandum of understanding is expected to lead to a definitive deal for a venture with Powerhouse supplying its Distributed Modular Gasification (DMG) system and Wrightbus supplying hydrogen fuel powered buses.
Concepta PLC (LON:CPT) has agreed a deal in China for distribution of the app that accompanies its myLotus fertility aid. Beijing Jiayou (AppInChina) will manage the app on Android systems throughout the country.
ECR Minerals PLC (LON:ECR) has commenced geochemical sampling on its gold exploration licenses in Victoria, in preparation for a drilling campaign that will get underway during the first half of this year. Required consents have already been obtained for drilling on two prospects, Black Cat and the HR3 area.
Mosman Oil And Gas Ltd (LON:MSMN) told investors that a completed prefeasibility study assessing a possible horizontal well project, at the Welch Permian Basin property in Texas, would have "attractive economics" at the current oil price. The company said the wells would have anticipated oil flow rates of 60 to 120 barrels per day, based on data from nearby wells, and a new reserves study is now underway, due in April. Big Pic in February.
Eco Atlantic Oil & Gas Ltd (LON:ECO, CVE:EOG) has acquired minority interests in its Guyana subsidiary so that it is now wholly owned. It cleans up the group's ownership structure, in relation to the potentially high impact exploration venture in which it is partnered with Tullow Oil. Big Pic in June.
Appalachian Basin-focused gas producer Diversified Gas & Oil plc (LON:DGOC) has negotiated a new US$500mln debt facility at less than half the cost of its previous arrangement. The five-year senior secured revolving credit facility has been led by Key Bank and will carry an interest rate of Libor + 2.5%-3.25% compared to Libor + 8.5% currently.
The FTSE 100 is expected to tick higher first thing, recovering after a retreat yesterday, despite easier showings overnight by Asian stocks, lacking a lead from US markets which were closed on Monday for the President's Day holiday, with the main focus on some big blue chip results.
Spread betting firm CMC Markets expects the UK blue chip index to open around 6 points higher at 7,253, having dropped 47 points on Monday.
On currency markets, the pound was lower versus the dollar at US$1,3970, but held steady against the euro awaiting a big day of economic news tomorrow, with the latest CBI industrial trends the only data of note today.
On the corporate front, two big set of UK results have already been released this morning - from Hong Kong-listed global lending giant HSBC Holdings PLC (LON:HSBA) and Anglo-Australian mining behemoth BHP Billiton plc (LON:BLT).
FTSE 100-listed HSBC saw its pre-tax profit for 2017 more than double due to the absence of hefty restructuring costs incurred in the prior year but still lagged expectations as the bank took a write-down following US tax changes.
The bank reported a profit before tax of US$17.2bn for 2017, compared with US$7.1bn the year before but below the US $19.7bn consensus estimate.
Europe's biggest lender by market capitalisation also announced plans to further bolster its capital base by raising up to US$7bn ( ?5bn) in the first half of 2018.
Meanwhile, BHP Billiton, the world's biggest miner, said its underlying half-year profit rose by 25% helped by robust commodity prices, but it also missed forecasts.
The group's underlying first-half profit rose to US$4.05bn, up from US$3.24bn a year earlier but below the consensus estimate of US$4.30bn,
Full-year results also due today from blue chip Intercontinental Hotels Group (LON:IHG) are expected to show revenue rising by 5.6% to US$1,811mln, driven primarily by net system size expansion and growth in revenue per available room.
A 7% increase in the FTSE 100 listed firm's EBIT to US$757mln is also expected, in addition to an 18% increase in EPS to US$2.37 as a result of solid operating profit growth and lower shares outstanding following consolidation.
The main point of interest for the update will be the performance of US operations, aside from the tax change impact, and whether there are signs of improvement, particularly following lower than expected performance in the Middle-East and US regions in interim results.
Finals: HSBC Holdings PLC (LON:HSBA), Intercontinental Hotels Group PLC (LON:IHG), Lighthouse Group PLC (LON:LGT), Synectics PLC (LON:SNX)
Interims: BHP Billiton plc (LON:BLT), Dunelm PLC (LON:DNLM); Green REIT PLC (LON:GRN), Springfield Properties PLC (LON:SPR), Tristel Plc (LON:TRTL)
Economic data: CBI UK industrial trends survey