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U.K. (FTSE) Market Analysis & Valuation

UpdatedJun 08, 2026
DataAggregated Company Financials
Companies1088
  • 7D-0.1%
  • 3M-0.4%
  • 1Y16.7%
  • YTD4.3%

In the last week, the market has stayed flat, however the Healthcare sector stood out, gaining 3.4%. As for the longer term, the market has risen 17% in the past 12 months. As for the next few years, earnings are expected to grow by 12% 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
Mon, 08 Jun 2026UK£2.9tUK£2.0tUK£165.1b15.9x17.7x1.4x
Wed, 06 May 2026UK£2.9tUK£2.0tUK£160.6b15.9x18x1.4x
Fri, 03 Apr 2026UK£2.9tUK£2.0tUK£158.4b15.1x18.5x1.5x
Sun, 01 Mar 2026UK£3.1tUK£2.0tUK£151.3b17x20.5x1.6x
Tue, 27 Jan 2026UK£2.9tUK£1.9tUK£136.7b16.8x21.4x1.5x
Thu, 25 Dec 2025UK£2.8tUK£2.0tUK£138.7b16.1x20.4x1.4x
Sat, 22 Nov 2025UK£2.7tUK£2.0tUK£139.0b16x19.7x1.4x
Mon, 20 Oct 2025UK£2.7tUK£1.9tUK£135.4b16.4x19.9x1.4x
Wed, 17 Sep 2025UK£2.7tUK£1.9tUK£135.1b16.4x19.7x1.4x
Fri, 15 Aug 2025UK£2.7tUK£1.9tUK£133.9b15.9x19.9x1.4x
Sun, 13 Jul 2025UK£2.5tUK£1.9tUK£127.3b16.1x19.8x1.3x
Tue, 10 Jun 2025UK£2.5tUK£1.9tUK£127.3b16.5x19.6x1.3x
Thu, 08 May 2025UK£2.4tUK£2.0tUK£130.6b16x18.7x1.2x
Sat, 05 Apr 2025UK£2.3tUK£2.0tUK£136.6b14.5x16.8x1.1x
Mon, 03 Mar 2025UK£2.5tUK£2.0tUK£139.0b15.7x18.2x1.2x
Wed, 29 Jan 2025UK£2.5tUK£2.1tUK£123.6b16x20.1x1.2x
Fri, 27 Dec 2024UK£2.4tUK£2.0tUK£123.1b15.9x19.4x1.2x
Sun, 24 Nov 2024UK£2.4tUK£2.1tUK£124.0b16.4x19.6x1.2x
Tue, 22 Oct 2024UK£2.4tUK£2.0tUK£119.0b16.3x20.4x1.2x
Thu, 19 Sep 2024UK£2.4tUK£2.0tUK£118.7b16.7x20.4x1.2x
Sat, 17 Aug 2024UK£2.4tUK£2.0tUK£121.7b16.8x20.1x1.2x
Mon, 15 Jul 2024UK£2.4tUK£2.0tUK£129.8b17x18.8x1.2x
Wed, 12 Jun 2024UK£2.4tUK£2.0tUK£129.8b16.5x18.7x1.2x
Fri, 10 May 2024UK£2.5tUK£2.1tUK£136.4b16.8x18.3x1.2x
Sun, 07 Apr 2024UK£2.4tUK£2.1tUK£146.0b16x16.4x1.1x
Tue, 05 Mar 2024UK£2.3tUK£2.0tUK£141.9b15.2x16.2x1.1x
Thu, 01 Feb 2024UK£2.3tUK£2.1tUK£191.9b14.9x12x1.1x
Sat, 30 Dec 2023UK£2.4tUK£2.1tUK£193.5b15x12.2x1.1x
Mon, 27 Nov 2023UK£2.3tUK£2.1tUK£193.6b14.4x11.7x1.1x
Wed, 25 Oct 2023UK£2.3tUK£2.2tUK£187.3b13.4x12x1x
Fri, 22 Sep 2023UK£2.4tUK£2.2tUK£186.2b14.6x12.7x1.1x
Sun, 20 Aug 2023UK£2.2tUK£2.1tUK£184.1b14.2x12.2x1x
Tue, 18 Jul 2023UK£2.3tUK£2.2tUK£204.9b13.8x11.3x1.1x
Thu, 15 Jun 2023UK£2.4tUK£2.2tUK£208.6b14.3x11.4x1.1x
Price to Earnings Ratio

11.4x


Total Market Cap: UK£2.4tTotal Earnings: UK£208.6bTotal 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 7.5% per year over the last three years.
  • Revenues have also declined 2.3% 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-0.10%
Healthcare3.44%
Utilities2.71%
Consumer Discretionary1.86%
Energy1.02%
Industrials0.28%
Consumer Staples0.19%
Telecom-1.12%
Financials-1.12%
Real Estate-1.19%
Tech-1.63%
Materials-4.19%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.2x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 17.9%, which is higher than its past year's earnings growth of 7.6% 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 27% over the next 5 years.
  • This is better than its past earnings growth rate of 4.6% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 7.0% 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
AZN AstraZenecaUK£138.583.2%
+UK£6.6b		28.6%PE27.6xHealthcare
GSK GSKUK£19.385.2%
+UK£3.8b		28.4%PE13.3xHealthcare
NG. National GridUK£12.182.8%
+UK£1.7b		17.5%PE18.7xUtilities
SHEL ShellUK£32.281.0%
+UK£1.6b		28.8%PE12.8xEnergy
CPG Compass GroupUS$32.814.0%
+US$2.1b		-6.1%PE27.6xConsumer Discretionary
See more

Market Insights

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Latest News

SHEL
UK£32.28
Shell
7D
1.0%
1Y
28.8%
Narrative Update • Jun 07

SHEL: Future Returns Will Reflect ARC Deal And Middle East Risk

Shell's analyst price target edges higher to about £39 from about £38, as analysts factor the ARC Resources acquisition, revised commodity assumptions, and updated earnings and cash flow estimates into their models. Analyst Commentary Recent research points to a mixed but generally constructive reassessment of Shell, with several firms adjusting price targets and ratings as they update models for the ARC Resources acquisition and revised commodity assumptions.
BP.
UK£5.46
BP
7D
1.9%
1Y
50.7%
RIO
UK£76.04
Rio Tinto Group
7D
-5.6%
1Y
74.3%
REL
UK£26.16
RELX
7D
2.9%
1Y
-33.3%
Narrative Update • Jun 06

REL: AI Moat And Buybacks Will Support Future Earnings Multiple

Narrative Update: RELX Analyst Price Target Shift The updated analyst fair value estimate for RELX has edged down from about £36.18 to £35.80 as analysts balance slightly higher discount rate assumptions with relatively steady growth, margin, and P/E expectations, following recent research that highlights both AI related risks and support from new AI products. Analyst Commentary Recent research on RELX shows a mix of optimism around AI driven products and caution about how AI related risks are perceived and priced into the stock.
ULVR
UK£41.89
Unilever
7D
1.4%
1Y
-19.4%
Narrative Update • Jun 06

ULVR: Planned Foods Combination And Innovation Hub Will Support Further Upside

Unilever's analyst price target has been trimmed by £600 to £3,700 as analysts factor in slightly higher long term earnings expectations, while also questioning how far the stock can stretch toward U.S. peer valuation levels. Analyst Commentary Recent research on Unilever points to a mixed setup, with some analysts leaning more constructive on execution and earnings potential, while others remain cautious on how far the valuation can stretch versus U.S. peers.
AZN
UK£138.58
AstraZeneca
7D
3.2%
1Y
28.6%
HSBA
UK£13.61
HSBC Holdings
7D
-1.6%
1Y
53.6%
Narrative Update • Jun 05

HSBA: Future Returns Will Hinge On Conviction Status And AI Cost Cuts

Analysts have lifted the HSBC Holdings price target to £14.20 from £13.67. This reflects updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E, alongside recent supportive research that includes price target increases and the stock being added to a European conviction list.
FRES
UK£29.86
Fresnillo
7D
-7.9%
1Y
117.3%
ANTO
UK£39.70
Antofagasta
7D
-4.1%
1Y
109.6%
Narrative Update • Jun 05

ANTO: Copper And Geopolitical Risks Will Restrain Future Share Performance

Narrative Update The analyst price target for Antofagasta is now set slightly higher at about £35.96 per share, up from £35.00, as analysts factor in updated assumptions on revenue, profit margins and future P/E, alongside a series of recent price target revisions across the Street. Analyst Commentary Recent research on Antofagasta shows a wide range of views, with some firms lifting targets and ratings while others trim targets or move to more cautious stances.
CPG
US$32.81
Compass Group
7D
4.0%
1Y
-6.1%
Narrative Update • Jun 05

CPG: BNP Upgrade And Premium P/E Will Support Future Upside

Narrative Update on Compass Group Analysts have adjusted their price target on Compass Group to $38.28, supported by an updated view on the stock's discount rate and forward P/E assumptions in light of recent research upgrades such as the move by BNP Paribas. What's in the News Compass Group is participating in the Kiertis pilot in Espoo, Finland, which tests reusable, deposit based takeaway food containers and a related return system in grocery and food service settings.
NG.
UK£12.18
National Grid
7D
2.8%
1Y
17.5%
GSK
UK£19.38
GSK
7D
5.2%
1Y
28.4%
PRU
UK£9.51
Prudential
7D
-10.5%
1Y
8.0%
Narrative Update • Jun 04

PRU: Capital Returns And India Insurance Deal Prospects Will Drive Re Rating

Prudential's updated analyst price target now sits at about £12.20, a small uplift from roughly £12.00, as analysts adjust their models for slightly higher assumed revenue growth and P/E multiples while tempering margin expectations, in line with a mix of recent target raises and trims across the Street. Analyst Commentary Recent Street research around Prudential reflects a split view, with some large houses lifting targets while others trim them, keeping the overall tone balanced rather than clearly bullish or bearish.
STAN
UK£19.33
Standard Chartered
7D
-3.8%
1Y
63.5%
Narrative Update • Jun 02

STAN: Fair Value Now Balances Execution Risks And Capital Return Prospects

Standard Chartered's analyst fair value estimate has been raised from £19.48 to £21.07. This reflects a series of higher price targets and rating upgrades from major banks as analysts factor in updated assumptions on growth, margins and future P/E multiples.
AAL
UK£38.56
Anglo American
7D
-5.0%
1Y
75.6%
Narrative Update • Jun 02

AAL: Copper And Iron Ore Downside Risks Will Drive Cautious Outlook

Anglo American's analyst fair value estimate has edged up from £36.53 to £36.80 as analysts refine their assumptions around discount rates, profit margins and future P/E expectations. Street price targets have been adjusted in a tight range between about £28.00 and £40.00.
BATS
UK£44.04
British American Tobacco
7D
-3.9%
1Y
24.8%
Narrative Update • Jun 01

BATS: Smokeless Transition And 2035 Objectives Will Limit Near Term Upside

Analysts have nudged their fair value estimate for British American Tobacco slightly lower to about £39.07 from roughly £39.19, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News British American Tobacco has highlighted a long term goal to become predominantly smokeless by 2035, focusing on products such as vapes and nicotine pouches, according to recent coverage of its upcoming half year results.