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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%

Over the last 7 days, the market has risen 2.0%, driven by gains of 3.6% in the Financials sector. As for the past 12 months, the market is up 24%. 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
Tue, 03 Mar 2026UK£3.1tUK£2.0tUK£151.4b17x20.5x1.6x
Thu, 29 Jan 2026UK£2.9tUK£1.9tUK£136.4b17x21.4x1.5x
Sat, 27 Dec 2025UK£2.8tUK£2.0tUK£138.0b16.1x20.5x1.4x
Mon, 24 Nov 2025UK£2.7tUK£2.0tUK£139.1b15.9x19.6x1.4x
Wed, 22 Oct 2025UK£2.7tUK£1.9tUK£135.6b16.5x20x1.4x
Fri, 19 Sep 2025UK£2.7tUK£1.9tUK£135.5b16.4x19.7x1.4x
Sun, 17 Aug 2025UK£2.7tUK£1.9tUK£133.8b15.8x19.8x1.4x
Tue, 15 Jul 2025UK£2.5tUK£1.9tUK£127.6b16x19.8x1.3x
Thu, 12 Jun 2025UK£2.5tUK£1.9tUK£127.4b16.5x19.7x1.3x
Sat, 10 May 2025UK£2.4tUK£2.0tUK£130.8b16x18.6x1.2x
Mon, 07 Apr 2025UK£2.3tUK£2.0tUK£136.6b14.5x16.8x1.1x
Wed, 05 Mar 2025UK£2.5tUK£2.0tUK£138.5b15.6x18.1x1.2x
Fri, 31 Jan 2025UK£2.5tUK£2.1tUK£123.5b15.9x20.2x1.2x
Sun, 29 Dec 2024UK£2.4tUK£2.0tUK£122.5b15.9x19.6x1.2x
Tue, 26 Nov 2024UK£2.4tUK£2.0tUK£123.9b16.3x19.7x1.2x
Thu, 24 Oct 2024UK£2.4tUK£2.0tUK£119.2b16.2x20.2x1.2x
Sat, 21 Sep 2024UK£2.4tUK£2.0tUK£118.0b17x20.5x1.2x
Mon, 19 Aug 2024UK£2.4tUK£2.0tUK£121.8b16.8x20.1x1.2x
Wed, 17 Jul 2024UK£2.4tUK£2.0tUK£129.9b16.8x18.6x1.2x
Fri, 14 Jun 2024UK£2.5tUK£2.0tUK£129.8b16.6x18.9x1.2x
Sun, 12 May 2024UK£2.5tUK£2.1tUK£136.5b16.9x18.4x1.2x
Tue, 09 Apr 2024UK£2.4tUK£2.1tUK£145.9b16.1x16.5x1.1x
Thu, 07 Mar 2024UK£2.3tUK£2.0tUK£142.2b15.6x16.3x1.1x
Sat, 03 Feb 2024UK£2.3tUK£2.1tUK£183.4b14.8x12.5x1.1x
Mon, 01 Jan 2024UK£2.3tUK£2.1tUK£193.5b15.1x12.1x1.1x
Wed, 29 Nov 2023UK£2.3tUK£2.1tUK£192.8b14.4x11.7x1.1x
Fri, 27 Oct 2023UK£2.2tUK£2.2tUK£188.7b13.4x11.9x1x
Sun, 24 Sep 2023UK£2.3tUK£2.2tUK£186.8b14.6x12.1x1x
Tue, 22 Aug 2023UK£2.2tUK£2.1tUK£184.1b14.1x12.2x1x
Thu, 20 Jul 2023UK£2.4tUK£2.2tUK£206.6b14.2x11.5x1.1x
Sat, 17 Jun 2023UK£2.4tUK£2.2tUK£207.5b14.3x11.5x1.1x
Mon, 15 May 2023UK£2.4tUK£2.2tUK£211.7b14.4x11.5x1.1x
Wed, 12 Apr 2023UK£2.4tUK£2.2tUK£180.0b13.8x13.6x1.1x
Fri, 10 Mar 2023UK£2.5tUK£2.2tUK£190.1b13.7x13.3x1.1x
Price to Earnings Ratio

13.3x


Total Market Cap: UK£2.5tTotal Earnings: UK£190.1bTotal 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 7.3% per year over the last three years.
  • Revenues have also declined 3.7% 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 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%PE13.1xEnergy
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%PE1865.2xEnergy
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 🔭

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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%
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%
ANTO
UK£39.15
Antofagasta
7D
-7.1%
1Y
128.9%
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

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DGE
UK£15.65
Diageo
7D
-16.5%
1Y
-27.0%
GSK
UK£21.22
GSK
7D
-3.6%
1Y
40.6%
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.
LLOY
UK£0.97
Lloyds Banking Group
7D
-5.5%
1Y
35.7%

LLOY: Buybacks And Progressive Dividend Policy Will Shape A Balanced Return Outlook

Analysts have raised their fair value estimate for Lloyds Banking Group from £1.08 to about £1.11, reflecting updated assumptions on the discount rate, revenue growth, profit margin and future P/E. What's in the News The Board has authorized a new share buyback plan dated January 30, 2026, indicating formal approval for additional capital returns via repurchases (Key Developments).