It's understood 400 pupils had to be led to safety from Catherine Junior School and taken to the nearby infants school at around 2pm.
At its height 46 firefighters were at the scene.
A building inspector from the city council was on the scene to check the safety of the building.
The fire started in the roof.
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A cafe has been criticised for telling parents to take their children outside if they throw tantrums.
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The attack was the latest serious knife crime in the Midlands after four stabbings – one fatal – in the space of just 24 hours last week.