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U.K. (FTSE) Market Analysis & Valuation

UpdatedApr 30, 2026
DataAggregated Company Financials
Companies1081
  • 7D-2.7%
  • 3M-0.5%
  • 1Y19.9%
  • YTD2.8%

Over the last 7 days, the market has dropped 2.7%, driven by losses in every sector, especially the Healthcare sector. In the last year, the market is actually up 20%. Looking forward, 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, 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
Sun, 07 May 2023UK£2.4tUK£2.2tUK£209.8b14.4x11.6x1.1x
Price to Earnings Ratio

11.6x


Total Market Cap: UK£2.4tTotal Earnings: UK£209.8bTotal Revenue: UK£2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.3x202420252026
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 17.3x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 8.6% per year over the last three years.
  • Revenues have also declined 2.2% 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-2.70%
Consumer Staples-0.18%
Energy-0.30%
Utilities-0.92%
Telecom-1.22%
Tech-1.61%
Financials-2.00%
Real Estate-2.21%
Industrials-3.98%
Consumer Discretionary-4.74%
Materials-4.75%
Healthcare-5.83%
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 53.0x.
    • 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 7.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 46% 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£43.232.8%
+UK£2.5b		33.6%PE12.2xConsumer Staples
STAN Standard CharteredUK£18.636.0%
+UK£2.3b		69.8%PB1.1xFinancials
BP. BPUK£5.842.4%
+UK£2.1b		66.8%PE37.8xEnergy
HSBA HSBC HoldingsUK£13.490.8%
+UK£1.9b		63.6%PB1.6xFinancials
RR. Rolls-Royce HoldingsUK£11.821.9%
+UK£1.8b		54.1%PE16.8xIndustrials
See more

Market Insights

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Latest News

RR.
UK£11.82
Rolls-Royce Holdings
7D
1.9%
1Y
54.1%
AZN
UK£139.48
AstraZeneca
7D
-3.8%
1Y
31.5%
BP.
UK£5.84
BP
7D
2.4%
1Y
66.8%
GSK
UK£19.29
GSK
7D
-7.1%
1Y
31.8%
ANTO
UK£35.50
Antofagasta
7D
-7.3%
1Y
112.0%

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.
RIO
UK£73.48
Rio Tinto Group
7D
-1.0%
1Y
65.9%

RIO: Cautious Tone Will Persist As Copper And Iron Ore Risks Intensify

Rio Tinto Group’s updated analyst price target reflects a modest uplift of about £0.25 per share, with analysts pointing to refreshed commodity assumptions, slightly higher revenue growth expectations, and updated P/E multiples, partly offset by more conservative margin and discount rate inputs. Analyst Commentary Recent research reflects a split view on Rio Tinto Group, with some firms lifting price targets while several bearish analysts have taken a more cautious stance on valuation, commodity exposure, and near term execution risks.
SHEL
UK£33.26
Shell
7D
1.0%
1Y
36.5%
CPG
US$28.25
Compass Group
7D
-5.2%
1Y
-15.0%

CPG: Margin Resilience And Premium P/E Will Support Future Upside

Analysts have made a small trim to Compass Group's fair value estimate, moving their price target from about $38.60 to roughly $38.50. This adjustment reflects updated views on discount rates, profit margins and P/E assumptions following recent research, including an upgrade and a separate target cut.
STAN
UK£18.63
Standard Chartered
7D
6.0%
1Y
69.8%

STAN: Future Returns Will Hinge On Execution And Aggressive Capital Returns

Narrative update on Standard Chartered The updated analyst price target for Standard Chartered moves to £19.48 from £18.96, reflecting analysts' tweaks to fair value, discount rate, revenue growth, profit margin and future P/E assumptions following a mix of recent target changes and rating updates across the Street. Analyst Commentary Recent research on Standard Chartered has been active, with several firms revising price targets and ratings.
HSBA
UK£13.49
HSBC Holdings
7D
0.8%
1Y
63.6%
NG.
UK£13.12
National Grid
7D
1.9%
1Y
22.5%

NG.: Grid AI Collaboration And Margin Discipline Will Shape Earnings Resilience

Analysts have nudged their fair value estimate for National Grid to £13.78, reflecting updated assumptions around slightly lower revenue growth, a modestly higher profit margin, and a marginally richer future P/E multiple. Analyst Commentary Bullish Takeaways Bullish analysts point to the updated fair value estimate of £13.78 as support for National Grid's role as a regulated utility with relatively visible earnings, which can help anchor valuation assumptions.
FRES
UK£32.35
Fresnillo
7D
-5.6%
1Y
225.0%

FRES: Execution Risks Around Multi Year Production Guidance Will Likely Intensify

The analyst price target for Fresnillo has increased to £23.88 from £21.82, with analysts citing adjusted expectations for revenue growth, profit margins and future P/E, along with mixed recent target changes from major banks, as support for the new fair value. Analyst Commentary Recent research shows a split in sentiment on Fresnillo, with some major banks lifting targets while others have taken a more cautious stance on valuation and execution.
BATS
UK£43.23
British American Tobacco
7D
2.8%
1Y
33.6%

BATS: Future Returns Will Reflect Dividend Dependability And Strengthened Leadership Outlook

Analysts have nudged their price target for British American Tobacco up slightly to £46.21 from £45.85, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News British American Tobacco appointed Dragos Constantinescu as Chief Financial Officer, effective 1 September 2026, with Javed Iqbal to continue as Interim CFO until then and thereafter remain Director, Digital & Information (company announcement).
AAL
UK£35.87
Anglo American
7D
-5.0%
1Y
50.6%

AAL: Teck Merger And Commodity Risks Will Shape Balanced Future Profile

The analyst fair value estimate for Anglo American edges up to £35.09 from £35.05 as analysts weigh slightly higher assumed revenue growth and a modestly higher discount rate against a small trim to projected profit margins and future P/E, informed by a mix of recent target cuts and upgrades following the Teck merger progress and shifting sector risk views. Analyst Commentary Recent Street research around Anglo American is mixed, with several price target changes, rating shifts and comments on the proposed Teck merger feeding into the updated fair value estimate.
ULVR
UK£42.97
Unilever
7D
1.5%
1Y
-19.2%

ULVR: Planned Foods Separation With Margin Discipline Is Expected To Unlock Upside

Unilever's updated analyst fair value has shifted slightly lower to about £52.14 per share, as analysts factor in a higher discount rate and slightly more cautious revenue growth assumptions, while still recognizing stable profit margins and a broadly unchanged view of its future P/E ratio. Analyst Commentary Recent Street research on Unilever points to a mixed but engaged view, with analysts revisiting both ratings and price targets in light of the latest results and valuation reset.
LSEG
UK£95.50
London Stock Exchange Group
7D
-2.7%
1Y
-15.9%

LSEG: Activist Buybacks And AI Partnerships Will Support Future Upside Potential

Narrative update The analyst price target for London Stock Exchange Group has been raised by £1.00. Analysts point to updated assumptions for revenue growth, profit margins and future P/E as key drivers for the change.