Armed police were called after reports of shots being fired and a man with a knife near an east London school on Friday afternoon.
Scotland Yard confirmed they had been alerted and children were being kept inside the Roger Ascham Primary School in Walthamstow "as a precaution".
However, the Metropolitan Police later said that no armed man had been found.
"There were also reports of a man seen in possession of a large knife," a spokesman said.
"At this stage there is no evidence of a shot having been fired nor has any suspect been identified. We are not aware of any injuries. "
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