Britain's blue chips closed around 16 points higher, at 6,846 as gains were halted by news that Greek talks had stalled.
There had been optimism early in the session over a positive outcome but it seems the two sides are still at loggerheads over certain key issues. Greece has a big chunk to pay back on June 30 and there are ever more noises suggesting it may default.
Latest reports suggest the IMF have pulled a team out of the talks.
Earlier Michael Hewson, at CMC Markets, had been upbeat.
"It’s been another positive session in Europe today, with markets hoping against hope that we are closer to some form of deal with respect to Greece’s debt negotiations.
"Certainly the mood in Brussels appears more conciliatory than it was 24 hours ago, lifting expectations that we could get some form of interim deal that gets Greece over its funding hump in June and July."
The DAX is up 0.6% at the time of writing, while France’s CAC40 added 36 points, or 0.35% to 4,971.
Supermarket giant Sainsbury’s (LON:SBRY) was among risers, adding 1.42% to 264p after results yesterday and City broke Cantor Fitzgerald found a renewed appetite for the stock.
Yesterday, the company announced sales slipped but not by as much as investors had feared. On the news, the broker bumped it up to a ‘buy’ from 'hold'.
Tesco (LON:TSCO) was also riding the good vibes, rising 1.99% to 215.65p
Also on the rise was government-backed bank Royal Bank of Scotland (LON:RBS), up 1.89% to 361.5p.
Chancellor George Osborne gave his annual Mansion House speech last night and said the time was right to sell-off some of its 79% stake in the bank.
Royal Mail (LON:RMG) however shed 4.49% to 493.3p and was biggest Footsie laggard after the government's department for business, innovation & skills said it has completed the disposal of a 15% tranche of its holding via a share placing at 500p a share.
In the small caps a big gainer was Galantas Gold (LON:GAL) after the company won planning consent for an underground mine in Northern Ireland. Shares jumped over 23% but had earlier spiked 40%.
Triad Group (LON:TRD) was on the rise, to the tune of 41.94%, after the company released end of year results for the year ended 31 March 2015.
Revenue rose to £23.5mln from £19.7mln and profit more than tripled to £0.46mln from £0.13mln.
Tethys Petroleum (LON:TPL, TSE:TPL) has reached an amicable agreement with SinoHan, which will see the company repay an escrow loan and certain agreed costs. Shares rose 5.41% to 9.75p.
Conversely, Redhall Group (LON:RHL) said revenue in the first half of the year dropped to £41.4mln from £50.6mln due to delays in manufacturing. Shares eased 2.33% to 10.5p.
Other notable risers included Agriterra (LON:AGTA) added 13.77% to 0.79p, and Amadeo Resources (LON:AMED), which added 28.57% to 0.41p.
Amedeo is approaching a key milestone in the coming months as it prepares to deliver its first oil drilling rig.
Turmoil in crude markets has naturally overshadowed what has otherwise been a key period for Amedeo, which has made significant progress in the past year.
In Tuesday’s results statement the group acknowledged the slowdown in market for new rigs, though it revealed that its Chinese ship building partner has sufficient work for their yard on the banks of the Yantze.