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U.K. (FTSE) Market Analysis & Valuation

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies1093
  • 7D2.0%
  • 3M12.8%
  • 1Y24.0%
  • YTD9.8%

The market is up 2.0% over the last week, with the Financials sector leading the way, up 3.6%. In the last year, the market has climbed 24%. Looking forward, earnings are forecast to grow by 13% annually.

Trending IndustriesOil and GasGoldBiotechSoftware

Market Valuation and Performance

Has the U.K. Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Mar 2026UK£3.1tUK£2.0tUK£151.4b17x20.5x1.6x
Fri, 30 Jan 2026UK£2.9tUK£1.9tUK£136.4b17x21.5x1.5x
Sun, 28 Dec 2025UK£2.8tUK£2.0tUK£137.9b16.1x20.5x1.4x
Tue, 25 Nov 2025UK£2.7tUK£2.0tUK£139.2b15.9x19.6x1.4x
Thu, 23 Oct 2025UK£2.7tUK£1.9tUK£135.7b16.6x20.2x1.4x
Sat, 20 Sep 2025UK£2.7tUK£1.9tUK£135.9b16.4x19.6x1.4x
Mon, 18 Aug 2025UK£2.7tUK£1.9tUK£133.8b15.9x19.8x1.4x
Wed, 16 Jul 2025UK£2.5tUK£1.9tUK£127.7b16x19.7x1.3x
Fri, 13 Jun 2025UK£2.5tUK£1.9tUK£127.2b16.4x19.8x1.3x
Sun, 11 May 2025UK£2.4tUK£2.0tUK£130.8b16x18.6x1.2x
Tue, 08 Apr 2025UK£2.2tUK£2.0tUK£137.3b14.1x16x1.1x
Thu, 06 Mar 2025UK£2.5tUK£2.0tUK£137.8b15.9x18.2x1.3x
Sat, 01 Feb 2025UK£2.5tUK£2.0tUK£123.8b15.9x20.4x1.2x
Mon, 30 Dec 2024UK£2.4tUK£2.0tUK£122.5b15.9x19.6x1.2x
Wed, 27 Nov 2024UK£2.4tUK£2.0tUK£123.5b16.2x19.6x1.2x
Fri, 25 Oct 2024UK£2.4tUK£2.0tUK£123.3b16.1x19.8x1.2x
Sun, 22 Sep 2024UK£2.4tUK£2.0tUK£118.1b16.9x19.9x1.2x
Tue, 20 Aug 2024UK£2.5tUK£2.0tUK£121.6b16.9x20.3x1.2x
Thu, 18 Jul 2024UK£2.4tUK£2.0tUK£128.8b16.9x18.7x1.2x
Sat, 15 Jun 2024UK£2.4tUK£2.1tUK£130.3b16.4x18.6x1.2x
Mon, 13 May 2024UK£2.5tUK£2.1tUK£136.5b16.9x18.4x1.2x
Wed, 10 Apr 2024UK£2.4tUK£2.1tUK£145.8b16x16.5x1.1x
Fri, 08 Mar 2024UK£2.3tUK£2.1tUK£145.6b15.9x16x1.1x
Sun, 04 Feb 2024UK£2.3tUK£2.1tUK£183.3b14.8x12.5x1.1x
Tue, 02 Jan 2024UK£2.3tUK£2.1tUK£193.7b15.1x12.1x1.1x
Thu, 30 Nov 2023UK£2.2tUK£2.1tUK£193.3b14.4x11.6x1.1x
Sat, 28 Oct 2023UK£2.2tUK£2.2tUK£186.4b13.4x11.8x1x
Mon, 25 Sep 2023UK£2.3tUK£2.2tUK£186.8b14.6x12.1x1x
Wed, 23 Aug 2023UK£2.2tUK£2.1tUK£184.1b14.3x12.2x1x
Fri, 21 Jul 2023UK£2.4tUK£2.2tUK£206.8b14.2x11.6x1.1x
Sun, 18 Jun 2023UK£2.4tUK£2.2tUK£207.5b14.3x11.5x1.1x
Tue, 16 May 2023UK£2.4tUK£2.2tUK£210.9b14.4x11.6x1.1x
Thu, 13 Apr 2023UK£2.5tUK£2.2tUK£179.5b13.7x13.7x1.1x
Sat, 11 Mar 2023UK£2.5tUK£2.2tUK£189.1b13.5x13.1x1.1x
Price to Earnings Ratio

13.1x


Total Market Cap: UK£2.5tTotal Earnings: UK£189.1bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17x202420252026
Current Market PE
  • Investors are optimistic on the British market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 20.5x which is higher than its 3-year average PE of 17.0x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 7.2% per year over the last three years.
  • Revenues have also declined 3.6% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the U.K. Market?

GB Market1.95%
Tech3.83%
Financials3.63%
Materials3.21%
Energy2.98%
Utilities2.87%
Consumer Discretionary1.89%
Industrials1.78%
Telecom1.11%
Healthcare0.55%
Real Estate0.17%
Consumer Staples-0.99%
Sector PE
  • Investors favour the Tech sector the most for future growth even though it's trading below its 3-year average PE ratio of 53.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.6%, which is higher than its past year's earnings growth of 7.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings growth rate of 5.1% per year.
  • In contrast, the Industrials sector is expected to see its earnings grow by 8.4% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
SHEL ShellUK£31.134.8%
+UK£7.9b		21.2%PE13.2xEnergy
REL RELXUK£25.9614.2%
+UK£5.8b		-32.1%PE22.6xIndustrials
LSEG London Stock Exchange GroupUK£85.5211.4%
+UK£4.4b		-26.4%PE34.5xFinancials
BP. BPUK£4.934.6%
+UK£3.4b		20.8%PE1870.1xEnergy
BA. BAE SystemsUK£22.203.7%
+UK£2.4b		41.4%PE32xIndustrials
See more

Market Insights

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In many ways, the market is upside down. This new setting might offer some unexpected opportunities for investors.
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Alternatives part 2: 2026 and beyond 🔭

Latest News

GSK
UK£21.22
GSK
7D
-3.6%
1Y
40.6%
BA.
UK£22.20
BAE Systems
7D
3.7%
1Y
41.4%
ULVR
UK£51.34
Unilever
7D
-6.2%
1Y
-1.2%
HSBA
UK£12.63
HSBC Holdings
7D
-2.2%
1Y
37.8%
ANTO
UK£39.15
Antofagasta
7D
-7.1%
1Y
128.9%

ANTO: High Copper Optimism Will Likely Outrun Centinela Execution And Delivery Risks

Narrative update The analyst price target for Antofagasta has been lifted by £0.49 to £23.49. Analysts point to recalibrated fair value assumptions, a higher future P/E multiple, and updated expectations for revenue growth and profit margins as key drivers of the change.
LLOY
UK£0.97
Lloyds Banking Group
7D
-5.5%
1Y
35.7%

LLOY: Share Buybacks And Rising Ordinary Dividend Will Support Future Upside

Analysts have modestly raised their price target on Lloyds Banking Group from £1.20 to £1.30. This reflects updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E that they see as better aligning with current expectations for the bank.
BARC
UK£4.23
Barclays
7D
-8.1%
1Y
44.5%
LSEG
UK£85.52
London Stock Exchange Group
7D
11.4%
1Y
-26.4%
REL
UK£25.96
RELX
7D
14.2%
1Y
-32.1%

AI Cost Pressures And Data Regulation Risks Will Shape A Cautious But Constructive Outlook

Catalysts About RELX RELX provides information based analytics and decision tools across risk, scientific research, legal and exhibitions markets. What are the underlying business or industry changes driving this perspective?
DGE
UK£15.65
Diageo
7D
-16.5%
1Y
-27.0%
GLEN
UK£5.26
Glencore
7D
1.3%
1Y
68.2%

GLEN: Fair Outlook Balances Ended Megamerger Talks With Refined Earnings Assumptions

Analysts have lifted their price target on Glencore to £5.50 per share from £5.25, citing updated assumptions around fair value, revenue growth, discount rate and future P/E that together support a modestly higher valuation. Analyst Commentary Recent Street research on Glencore has been active, with several major banks updating their price targets and ratings in quick succession.
AZN
UK£149.32
AstraZeneca
7D
-2.6%
1Y
23.8%
EXPN
UK£26.75
Experian
7D
4.5%
1Y
-28.4%

EXPN: AI Mortgage And Data Partnerships Will Support Future Upside

Analysts have trimmed their price targets on Experian, with one major firm cutting its target by £0.83. The change reflects slightly adjusted assumptions on fair value, discount rate and forward P/E, rather than a change in the core growth or margin outlook.
HBR
UK£2.75
Harbour Energy
7D
20.4%
1Y
29.1%

HBR: Higher Output Guidance Will Support Cash Flows Despite Sector Caution

Analysts have nudged their Harbour Energy price targets higher to reflect an updated fair value estimate of £2.77 per share. This is supported by slightly softer assumed revenue declines and a modestly lower discount rate, even as expectations for profit margins have been trimmed and the future P/E left broadly unchanged.
SHEL
UK£31.13
Shell
7D
4.8%
1Y
21.2%
BP.
UK£4.93
BP
7D
4.6%
1Y
20.8%

BP.: Future Returns Will Reflect Portfolio Sales Refining Strength And CEO Transition

Analysts have trimmed their average price target on BP by £0.10, citing more cautious revenue growth assumptions, a slightly higher discount rate, and continued sector wide downgrades that have only been partially offset by firmer margin expectations. Analyst Commentary Recent Street research on BP points to a mixed backdrop, with several downgrades and price target cuts offset by a smaller group of more constructive voices focusing on balance sheet strength and refining exposure.