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U.K. (FTSE) Market Analysis & Valuation

UpdatedJun 01, 2026
DataAggregated Company Financials
Companies1087
  • 7D-0.3%
  • 3M-0.8%
  • 1Y18.4%
  • YTD5.1%

In the last week, the market has been flat, with a notable exception in the Utilities sector dropping 5.4%. More promisingly, the market is up 18% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 02 Jun 2026UK£2.9tUK£2.0tUK£164.8b16.1x17.9x1.5x
Thu, 30 Apr 2026UK£2.9tUK£2.0tUK£160.0b15.7x18.1x1.4x
Sat, 28 Mar 2026UK£2.8tUK£2.0tUK£157.5b14.6x17.7x1.4x
Mon, 23 Feb 2026UK£3.0tUK£2.0tUK£148.3b16.8x20.6x1.6x
Wed, 21 Jan 2026UK£2.9tUK£2.0tUK£137.6b16.7x21.1x1.5x
Fri, 19 Dec 2025UK£2.8tUK£2.0tUK£138.3b16.1x20.3x1.4x
Sun, 16 Nov 2025UK£2.8tUK£2.0tUK£139.2b16.4x20x1.4x
Tue, 14 Oct 2025UK£2.7tUK£1.9tUK£135.8b16.8x20.1x1.4x
Thu, 11 Sep 2025UK£2.7tUK£1.9tUK£136.8b16.3x19.5x1.4x
Sat, 09 Aug 2025UK£2.6tUK£1.9tUK£134.0b16.2x19.7x1.4x
Mon, 07 Jul 2025UK£2.5tUK£1.9tUK£126.8b16.3x19.6x1.3x
Wed, 04 Jun 2025UK£2.5tUK£1.9tUK£127.2b16.2x19.5x1.3x
Fri, 02 May 2025UK£2.4tUK£2.0tUK£131.5b15.7x18.4x1.2x
Sun, 30 Mar 2025UK£2.5tUK£2.0tUK£135.5b15.5x18.2x1.2x
Tue, 25 Feb 2025UK£2.5tUK£2.0tUK£137.3b16.1x18.2x1.2x
Thu, 23 Jan 2025UK£2.5tUK£2.1tUK£124.1b15.8x20.1x1.2x
Sat, 21 Dec 2024UK£2.4tUK£2.0tUK£122.7b16x19.4x1.2x
Mon, 18 Nov 2024UK£2.4tUK£2.0tUK£121.8b16.3x19.5x1.2x
Wed, 16 Oct 2024UK£2.4tUK£2.0tUK£118.7b16.5x20.4x1.2x
Fri, 13 Sep 2024UK£2.4tUK£2.0tUK£119.3b16.5x20.3x1.2x
Sun, 11 Aug 2024UK£2.4tUK£2.0tUK£123.3b16.4x19.6x1.2x
Tue, 09 Jul 2024UK£2.4tUK£2.0tUK£130.8b16.7x18.5x1.2x
Thu, 06 Jun 2024UK£2.5tUK£2.0tUK£129.7b16.8x19x1.2x
Sat, 04 May 2024UK£2.4tUK£2.1tUK£141.9b16.5x17.3x1.2x
Mon, 01 Apr 2024UK£2.4tUK£2.1tUK£145.9b16.4x16.5x1.1x
Wed, 28 Feb 2024UK£2.3tUK£2.0tUK£140.6b15.3x16.4x1.1x
Fri, 26 Jan 2024UK£2.3tUK£2.1tUK£193.0b14.9x11.8x1.1x
Sun, 24 Dec 2023UK£2.3tUK£2.1tUK£193.7b15.2x12.1x1.1x
Tue, 21 Nov 2023UK£2.3tUK£2.1tUK£194.2b14.4x11.7x1.1x
Thu, 19 Oct 2023UK£2.3tUK£2.2tUK£187.2b13.7x12.4x1.1x
Sat, 16 Sep 2023UK£2.4tUK£2.2tUK£185.8b14.7x12.7x1.1x
Mon, 14 Aug 2023UK£2.3tUK£2.1tUK£184.6b14.3x12.6x1.1x
Wed, 12 Jul 2023UK£2.3tUK£2.2tUK£206.3b13.8x11x1x
Fri, 09 Jun 2023UK£2.4tUK£2.2tUK£210.5b14.2x11.3x1.1x
Price to Earnings Ratio

11.3x


Total Market Cap: UK£2.4tTotal Earnings: UK£210.5bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.5x202420252026
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 17.5x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 7.8% per year over the last three years.
  • Revenues have also declined 2.7% 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-0.29%
Industrials2.40%
Materials2.26%
Consumer Discretionary2.07%
Tech2.04%
Real Estate1.29%
Financials0.53%
Telecom-0.90%
Healthcare-1.07%
Energy-3.31%
Consumer Staples-3.36%
Utilities-5.36%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.3x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.3%, which is higher than its past year's earnings growth of 8.4% per year.
  • The Financials sector is the least preferred by investors for future growth. Although, investor sentiment seems to have improved given that it's trading above its 3-year average of 10.1x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings growth rate of 4.6% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 6.8% 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
RIO Rio Tinto GroupUK£80.513.5%
+UK£4.5b		83.9%PE17.7xMaterials
AAL Anglo AmericanUK£40.575.8%
+UK£2.4b		82.7%PS3.2xMaterials
GLEN GlencoreUK£5.883.3%
+UK£2.2b		106.5%PE255.5xMaterials
ANTO AntofagastaUK£41.405.3%
+UK£2.1b		129.4%PE41.3xMaterials
RR. Rolls-Royce HoldingsUK£12.731.9%
+UK£2.0b		46.5%PE18xIndustrials
See more

Market Insights

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Latest News

BATS
UK£45.81
British American Tobacco
7D
-6.0%
1Y
37.1%
GLEN
UK£5.88
Glencore
7D
3.3%
1Y
106.5%
Narrative Update • Jun 01

GLEN: Fair Outlook Will Balance Tighter Earnings Execution With Recent Production And Labor Developments

Analysts have nudged Glencore's fair value estimate higher, with the updated model pointing to roughly a £0.17 per share uplift, helped by slightly stronger revenue growth and profit margin assumptions alongside a modestly higher future P/E, in line with recent Street target moves toward £5.60 to £6.10. Analyst Commentary Street research on Glencore has leaned toward higher price targets in recent months, with a mix of upgrades and trims that leave the stock trading against a fairly tight valuation range in the £4.60 to £6.10 per share bracket.
BP.
UK£5.36
BP
7D
-2.8%
1Y
47.6%
GSK
UK£18.43
GSK
7D
-3.8%
1Y
21.5%
RIO
UK£80.51
Rio Tinto Group
7D
3.5%
1Y
83.9%
DGE
UK£14.90
Diageo
7D
-6.9%
1Y
-25.1%
AZN
UK£134.34
AstraZeneca
7D
-3.5%
1Y
27.0%
STAN
UK£20.09
Standard Chartered
7D
3.2%
1Y
76.1%
ULVR
UK£41.33
Unilever
7D
-2.9%
1Y
-21.0%
RR.
UK£12.73
Rolls-Royce Holdings
7D
1.9%
1Y
46.5%
HSBA
UK£13.83
HSBC Holdings
7D
0.6%
1Y
57.8%
NG.
UK£11.84
National Grid
7D
-7.6%
1Y
13.5%
Analysis Article • May 21

We Think That There Are Some Issues For National Grid (LON:NG.) Beyond Its Promising Earnings

National Grid plc's ( LON:NG. ) healthy profit numbers didn't contain any surprises for investors. We think this is due...
AAL
UK£40.57
Anglo American
7D
5.8%
1Y
82.7%
BA.
UK£19.21
BAE Systems
7D
-3.6%
1Y
0.08%
Narrative Update • May 19

BA.: Firmer Defence Backdrop Will Offset Softer 2026 Guidance Risks

Analysts have lifted BAE Systems' blended price target to £2,438, reflecting slightly firmer revenue growth and margin assumptions, along with recent target increases from several research houses. Analyst Commentary Recent research activity around BAE Systems has clustered around incremental price target moves, with some analysts highlighting execution and growth questions even as headline targets sit above current levels.
ANTO
UK£41.40
Antofagasta
7D
5.3%
1Y
129.4%
Narrative Update • May 15

ANTO: Geopolitical And Sector Risks Will Likely Pressure Copper Upside Potential

Analysts have nudged the fair value estimate for Antofagasta slightly lower to £23.50 from about £23.72, reflecting a modestly higher discount rate and mixed price target revisions, with several recent moves in the £100 to £600 range across the broker community. Analyst Commentary Recent Street research on Antofagasta shows a wide spread of views, with some firms lifting price targets while others turn more cautious.
REL
UK£25.43
RELX
7D
3.9%
1Y
-36.5%
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.