Barclays, Glencore earnings knock FTSE down

London - Britain's blue-chip share index gave up early gains for a third straight session on Tuesday, dropping back from record highs, as Glencore and Barclays weighed on the market after earnings releases.

Barclays fell 3.3% after saying it had set aside an extra £750m for potential fines arising from allegations of manipulation in the foreign exchange market. Its annual profits rose 12%, thanks to a sharp cut in costs.

"The additional foreign exchange provision is unwelcome, whilst other regulatory discussions which may lead to further fines lurk in the background," said Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers.