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U.K. (FTSE) Market Analysis & Valuation

UpdatedMay 14, 2026
DataAggregated Company Financials
Companies1082
  • 7D-0.9%
  • 3M-0.9%
  • 1Y20.0%
  • YTD4.3%

The Materials sector gained 7.1% while the market remained flat over the last week. Meanwhile, the market is actually up 19% over the past year. Earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasGoldBiotechSoftware

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 14 May 2026UK£2.9tUK£2.0tUK£164.8b16x17.8x1.5x
Sat, 11 Apr 2026UK£3.0tUK£2.0tUK£157.3b15.7x19x1.5x
Mon, 09 Mar 2026UK£2.9tUK£2.0tUK£154.0b16.3x18.9x1.5x
Wed, 04 Feb 2026UK£3.0tUK£1.9tUK£137.7b17x21.5x1.5x
Fri, 02 Jan 2026UK£2.8tUK£2.0tUK£138.0b16.3x20.6x1.5x
Sun, 30 Nov 2025UK£2.8tUK£2.0tUK£139.6b16.3x20x1.4x
Tue, 28 Oct 2025UK£2.8tUK£1.9tUK£135.6b16.7x20.5x1.4x
Thu, 25 Sep 2025UK£2.7tUK£1.9tUK£136.0b16.5x19.7x1.4x
Sat, 23 Aug 2025UK£2.7tUK£1.9tUK£134.0b16.1x20.2x1.4x
Mon, 21 Jul 2025UK£2.5tUK£1.9tUK£127.4b16x19.9x1.3x
Wed, 18 Jun 2025UK£2.5tUK£1.9tUK£127.7b16.1x19.6x1.3x
Fri, 16 May 2025UK£2.5tUK£2.0tUK£132.6b16.4x18.6x1.3x
Sun, 13 Apr 2025UK£2.3tUK£2.0tUK£135.7b14.7x16.7x1.1x
Tue, 11 Mar 2025UK£2.5tUK£2.0tUK£137.7b15.2x17.9x1.2x
Thu, 06 Feb 2025UK£2.5tUK£2.0tUK£122.9b16x20.2x1.2x
Sat, 04 Jan 2025UK£2.4tUK£2.1tUK£123.5b15.9x19.6x1.2x
Mon, 02 Dec 2024UK£2.4tUK£2.0tUK£122.5b16.3x19.9x1.2x
Wed, 30 Oct 2024UK£2.4tUK£2.0tUK£120.4b16x20.1x1.2x
Fri, 27 Sep 2024UK£2.4tUK£2.0tUK£117.5b17x20.8x1.2x
Sun, 25 Aug 2024UK£2.5tUK£2.0tUK£119.5b16.9x20.5x1.2x
Tue, 23 Jul 2024UK£2.4tUK£2.0tUK£129.3b16.8x18.7x1.2x
Thu, 20 Jun 2024UK£2.4tUK£2.0tUK£131.7b16.6x18.4x1.2x
Sat, 18 May 2024UK£2.5tUK£2.1tUK£127.7b16.9x19.7x1.2x
Mon, 15 Apr 2024UK£2.4tUK£2.1tUK£148.4b16x16.3x1.1x
Wed, 13 Mar 2024UK£2.3tUK£2.1tUK£144.5b16x16.2x1.1x
Fri, 09 Feb 2024UK£2.3tUK£2.0tUK£144.0b15.2x15.7x1.1x
Sun, 07 Jan 2024UK£2.3tUK£2.1tUK£193.5b15x12.1x1.1x
Tue, 05 Dec 2023UK£2.3tUK£2.1tUK£193.3b14.5x11.8x1.1x
Thu, 02 Nov 2023UK£2.2tUK£2.2tUK£194.9b13.5x11.3x1x
Sat, 30 Sep 2023UK£2.3tUK£2.2tUK£185.5b14.5x12.6x1.1x
Mon, 28 Aug 2023UK£2.3tUK£2.2tUK£183.8b14.5x12.3x1.1x
Wed, 26 Jul 2023UK£2.4tUK£2.2tUK£206.2b14.2x11.6x1.1x
Fri, 23 Jun 2023UK£2.3tUK£2.2tUK£208.2b14.2x11.2x1.1x
Sun, 21 May 2023UK£2.4tUK£2.2tUK£216.9b14.3x11.2x1.1x
Price to Earnings Ratio

11.2x


Total Market Cap: UK£2.4tTotal Earnings: UK£216.9bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.4x202420252026
Current Market PE
  • Investors are relatively neutral on the British market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 17.4x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 9.4% per year over the last three years.
  • Revenues have also declined 3.0% 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 Market-0.92%
Materials6.49%
Healthcare0.78%
Consumer Discretionary-0.049%
Consumer Staples-0.14%
Tech-0.52%
Telecom-1.19%
Financials-2.04%
Energy-2.33%
Utilities-2.50%
Real Estate-3.22%
Industrials-5.67%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.0%, which is higher than its past year's earnings growth of 7.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 40% over the next 5 years.
  • This is better than its past earnings growth rate of 5.1% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 6.7% 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
BATS British American TobaccoUK£48.079.5%
+UK£9.0b		58.9%PE13.5xConsumer Staples
RIO Rio Tinto GroupUK£82.727.2%
+UK£9.0b		76.6%PE18.3xMaterials
ANTO AntofagastaUK£42.9912.6%
+UK£4.7b		129.3%PE43.1xMaterials
CPG Compass GroupUS$32.408.8%
+US$4.5b		-4.1%PE27.3xConsumer Discretionary
AZN AstraZenecaUK£137.661.5%
+UK£3.1b		37.4%PE27.8xHealthcare
See more

Market Insights

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Latest News

ULVR
UK£42.35
Unilever
7D
-3.0%
1Y
-17.5%
CPG
US$32.40
Compass Group
7D
8.8%
1Y
-4.1%
GLEN
UK£5.92
Glencore
7D
4.1%
1Y
116.3%
RR.
UK£12.05
Rolls-Royce Holdings
7D
-5.8%
1Y
51.2%
AZN
UK£137.66
AstraZeneca
7D
1.5%
1Y
37.4%
FRES
UK£37.84
Fresnillo
7D
9.3%
1Y
285.5%
LLOY
UK£0.95
Lloyds Banking Group
7D
-4.4%
1Y
26.8%
Narrative Update • May 12

LLOY: Recent Buyback Will Still Not Justify Richer Future Multiple

Analysts have nudged their fair value estimate for Lloyds Banking Group to £0.79 from £0.77, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E that keep the overall valuation profile broadly consistent. What's in the News Lloyds Banking Group completed a share buyback tranche running from January 30, 2026 to March 31, 2026, repurchasing 600,000,000 shares (1.02% of its share capital) for £700 million (Key Developments).
SHEL
UK£31.46
Shell
7D
-2.1%
1Y
25.1%
KAP
US$72.30
National Atomic Company Kazatomprom JSC
7D
-16.2%
1Y
93.8%
New Narrative • May 12

Kazatomprom is uniquely positioned to capture structural upside

Below is a sell-side / investment banking–style Investment Memorandum (IM) for National Atomic Company Kazatomprom JSC (“Kazatomprom”, “KAP”), with institutional structure, analytical framing, and cited sources. Investment Memorandum National Atomic Company Kazatomprom JSC (LSE: KAP / AIX: KAP) 1.
RIO
UK£82.72
Rio Tinto Group
7D
7.2%
1Y
76.6%
BA.
UK£19.29
BAE Systems
7D
-7.7%
1Y
13.4%
REL
UK£23.33
RELX
7D
-11.1%
1Y
-41.6%
Narrative Update • May 08

REL: Q4 Earnings Resilience And Buybacks Will Support Future Multiple

Analysts have slightly reduced their fair value estimate for RELX to £36.18 from £36.42. This change reflects modestly lower revenue growth assumptions and a marginally lower future P/E multiple, while still pointing to Q4 earnings resilience and limited observable impact from AI concerns.
BATS
UK£48.07
British American Tobacco
7D
9.5%
1Y
58.9%
BARC
UK£4.22
Barclays
7D
-4.6%
1Y
31.9%
AAL
UK£40.75
Anglo American
7D
6.5%
1Y
63.1%
Narrative Update • May 02

AAL: Geopolitical And Commodity Risks Will Limit Post Teck Merger Upside

Analysts have raised the fair value estimate for Anglo American from £21.07 to £21.89 per share. This reflects a combination of recent price target changes, rating revisions, and updated views on revenue, margins and future P/E assumptions across the Street.
ANTO
UK£42.99
Antofagasta
7D
12.6%
1Y
129.3%
Narrative Update • Apr 29

ANTO: Mixed Broker Views Will Shape Outlook As Copper Conditions Steer Expectations

Antofagasta's analyst fair value has shifted from £26.26 to £35.00, as analysts factor in revised assumptions on revenue growth, profit margins and discount rates, alongside a mix of recent target changes, including multiple raises from Citi, Morgan Stanley, JPMorgan and others, set against several downgrades and target cuts. Analyst Commentary Recent research on Antofagasta presents a mixed picture, with both bullish and bearish analysts adjusting ratings and price targets in quick succession.