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U.K. (FTSE) Market Analysis & Valuation

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies1086
  • 7D0.6%
  • 3M1.2%
  • 1Y17.8%
  • YTD5.0%

In the last week, the market has stayed flat, however the Healthcare sector stood out, gaining 5.9%. 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
Wed, 01 Jul 2026UK£2.9tUK£2.0tUK£165.2b15.6x17.8x1.4x
Fri, 29 May 2026UK£2.9tUK£2.0tUK£164.6b16x17.9x1.5x
Sun, 26 Apr 2026UK£2.9tUK£2.0tUK£157.4b16x18.6x1.5x
Tue, 24 Mar 2026UK£2.8tUK£2.0tUK£156.4b15x17.7x1.4x
Thu, 19 Feb 2026UK£3.0tUK£1.9tUK£146.3b16.8x20.8x1.6x
Sat, 17 Jan 2026UK£2.9tUK£2.0tUK£137.9b16.7x21.3x1.5x
Mon, 15 Dec 2025UK£2.8tUK£2.0tUK£138.2b15.9x20x1.4x
Wed, 12 Nov 2025UK£2.8tUK£1.9tUK£137.0b16.6x20.5x1.4x
Fri, 10 Oct 2025UK£2.7tUK£1.9tUK£135.9b16.8x20.2x1.4x
Sun, 07 Sep 2025UK£2.7tUK£1.9tUK£135.6b16.4x19.7x1.4x
Tue, 05 Aug 2025UK£2.6tUK£2.0tUK£134.5b16.1x19.7x1.4x
Thu, 03 Jul 2025UK£2.5tUK£1.9tUK£126.8b16.2x19.5x1.3x
Sat, 31 May 2025UK£2.5tUK£1.9tUK£126.0b16.2x19.7x1.3x
Mon, 28 Apr 2025UK£2.4tUK£2.0tUK£134.9b15.3x17.7x1.2x
Wed, 26 Mar 2025UK£2.5tUK£2.0tUK£135.6b15.5x18.2x1.2x
Fri, 21 Feb 2025UK£2.5tUK£2.0tUK£139.1b16.1x18x1.2x
Sun, 19 Jan 2025UK£2.5tUK£2.1tUK£125.0b16x19.9x1.2x
Tue, 17 Dec 2024UK£2.4tUK£2.0tUK£122.1b16.1x19.9x1.2x
Thu, 14 Nov 2024UK£2.4tUK£2.0tUK£120.3b16.3x19.7x1.2x
Sat, 12 Oct 2024UK£2.4tUK£2.0tUK£118.8b16.3x20.2x1.2x
Mon, 09 Sep 2024UK£2.4tUK£2.0tUK£119.2b16.6x20.2x1.2x
Wed, 07 Aug 2024UK£2.4tUK£2.0tUK£125.7b16.3x18.8x1.2x
Fri, 05 Jul 2024UK£2.4tUK£2.0tUK£131.0b16.8x18.5x1.2x
Sun, 02 Jun 2024UK£2.5tUK£2.0tUK£129.3b17.3x19.1x1.2x
Tue, 30 Apr 2024UK£2.4tUK£2.1tUK£143.3b16.4x17x1.2x
Thu, 28 Mar 2024UK£2.4tUK£2.1tUK£144.6b16.4x16.6x1.2x
Sat, 24 Feb 2024UK£2.3tUK£2.0tUK£139.7b15.6x16.6x1.1x
Mon, 22 Jan 2024UK£2.3tUK£2.1tUK£193.6b14.6x11.7x1.1x
Wed, 20 Dec 2023UK£2.3tUK£2.1tUK£193.2b14.9x12x1.1x
Fri, 17 Nov 2023UK£2.3tUK£2.1tUK£195.1b14.3x11.6x1.1x
Sun, 15 Oct 2023UK£2.3tUK£2.2tUK£187.0b13.8x12.4x1.1x
Tue, 12 Sep 2023UK£2.3tUK£2.2tUK£185.1b14.5x12.5x1.1x
Thu, 10 Aug 2023UK£2.3tUK£2.1tUK£183.8b14.6x12.8x1.1x
Sat, 08 Jul 2023UK£2.3tUK£2.2tUK£207.0b14x10.9x1x
Price to Earnings Ratio

10.9x


Total Market Cap: UK£2.3tTotal Earnings: UK£207.0bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.7x202420252026
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 17.6x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 7.4% 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 Market0.17%
Healthcare5.87%
Real Estate5.85%
Consumer Staples4.66%
Utilities2.70%
Consumer Discretionary1.73%
Industrials0.027%
Telecom-0.80%
Financials-0.81%
Tech-1.93%
Energy-4.22%
Materials-6.47%
Sector PE
  • Investors favour the Telecom sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 25.8%, which is higher than its past year's earnings growth of 3.1% 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 10.2x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 26% over the next 5 years.
  • This is better than its past earnings growth rate of 3.1% per year.
  • In contrast, the Consumer Staples sector is expected to see its earnings grow by 6.9% 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£141.003.8%
+UK£7.9b		35.6%PE27.9xHealthcare
RR. Rolls-Royce HoldingsUK£14.453.8%
+UK£4.4b		53.7%PE20.4xIndustrials
III 3i GroupUK£24.869.2%
+UK£2.1b		-39.4%PE4.7xFinancials
BATS British American TobaccoUK£46.772.0%
+UK£2.0b		36.8%PE13.2xConsumer Staples
SGRO SEGROUK£8.7518.0%
+UK£1.8b		26.7%PB1xReal Estate
See more

Market Insights

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Latest News

BATS
UK£46.77
British American Tobacco
7D
2.0%
1Y
36.8%
III
UK£24.86
3i Group
7D
9.2%
1Y
-39.4%
RIO
UK£71.22
Rio Tinto Group
7D
-2.0%
1Y
67.0%
SGRO
UK£8.75
SEGRO
7D
18.0%
1Y
26.7%
AZN
UK£141.00
AstraZeneca
7D
3.8%
1Y
35.6%
GLEN
UK£5.14
Glencore
7D
-4.0%
1Y
76.4%
Narrative Update • Jun 29

GLEN: Copper Shift And Rising Fair Value Will Drive Medium Term Rerating

Glencore's analyst price targets have moved in both directions, with several banks raising estimates toward the £5.60 to £6.10 range, while others, citing a shift toward copper and earnings pressure in iron ore, have trimmed targets to around £5.30. Analyst Commentary Recent research on Glencore shows a split in opinion, but the most optimistic commentary highlights higher price targets and confidence in the company’s ability to execute on its portfolio mix, particularly around copper exposure and capital allocation.
ULVR
UK£45.28
Unilever
7D
1.7%
1Y
-10.2%
SHEL
UK£29.33
Shell
7D
-2.4%
1Y
13.9%
HSBA
UK£14.31
HSBC Holdings
7D
-1.0%
1Y
64.3%
RR.
UK£14.45
Rolls-Royce Holdings
7D
3.8%
1Y
53.7%
RKT
UK£49.11
Reckitt Benckiser Group
7D
5.5%
1Y
-5.7%
Narrative Update • Jun 24

RKT: Future Returns Will Rely On Resilient Margins And Share Repurchases

Reckitt Benckiser Group’s analyst fair value estimate has edged down slightly, in line with a series of recent price target trims that include Morgan Stanley’s move from £62.00 to £58.00 and Citi’s £8.00 reduction, as analysts reassess assumptions while broadly maintaining a constructive stance on the stock. Analyst Commentary Recent research on Reckitt Benckiser Group has centered on adjustments to price targets and ratings, giving you a clearer picture of how the Street is weighing valuation support against execution risks.
BP.
UK£4.67
BP
7D
-6.3%
1Y
26.8%
VOD
UK£1.00
Vodafone Group
7D
-6.4%
1Y
25.0%
Narrative Update • Jun 18

VOD: Future Re Rating May Follow Improved Margins Despite German Pressure

The latest narrative update on Vodafone Group reflects a lower analyst price target of £1.50, down £0.05, as analysts weigh ongoing pressure in Germany and elevated UK spending against adjusted assumptions for revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research on Vodafone Group has become more mixed, with several firms revising price targets and ratings as they reassess the balance between pressure in Germany, higher UK spending, and the company’s broader execution.
HLN
UK£3.48
Haleon
7D
4.2%
1Y
-7.4%
Narrative Update • Jun 17

HLN: Cautious Ratings And Execution Progress Will Guide Future Share Price

Haleon’s latest Narrative Update reflects a modest reset in analyst expectations, with the average price target easing in line with recent cuts to £4.30 and £3.65 from major banks as analysts factor in slightly revised assumptions on revenue growth, profit margin and future P/E multiples. Analyst Commentary on Haleon stock Recent Street research on Haleon points to a more cautious tone, with several bearish analysts trimming price targets and, in at least one case, moving to a more neutral stance on the shares.
LSEG
UK£81.62
London Stock Exchange Group
7D
-2.5%
1Y
-23.4%
Narrative Update • Jun 17

LSEG: Digital Expansion And Share Buybacks Will Support Future Share Price Upside

Analysts have nudged their price targets for London Stock Exchange Group higher, with one recent move adding £1.00 to the prior level. The change reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
FRES
UK£27.41
Fresnillo
7D
-3.9%
1Y
88.4%
Narrative Update • Jun 16

FRES: Higher Revenue Assumptions And Cost Discipline Will Support Re Rating Potential

The analyst price target for Fresnillo has shifted to reflect a modest fair value adjustment to £54.36, as analysts reassessed assumptions for revenue growth, profit margins and future P/E following a series of mixed target changes from Citi, Morgan Stanley, JPMorgan and Berenberg. Analyst Commentary Recent research on Fresnillo highlights a split in opinion, but there are clear areas where bullish analysts see room for the stock to better reflect their reassessed fair value assumptions.