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U.K. (FTSE) Market Analysis & Valuation

UpdatedAug 05, 2026
DataAggregated Company Financials
Companies1078
  • 7D0.4%
  • 3M3.7%
  • 1Y18.8%
  • YTD9.2%

In the last week, the market has stayed flat, however the Materials sector stood out, gaining 7.1%. More promisingly, the market is up 19% over the past year. Looking forward, earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasGoldBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 06 Aug 2026UK£3.1tUK£2.1tUK£171.9b15.9x17.8x1.5x
Sat, 04 Jul 2026UK£3.0tUK£2.0tUK£164.8b15.9x18.2x1.5x
Mon, 01 Jun 2026UK£2.9tUK£2.0tUK£164.8b16.1x17.9x1.5x
Wed, 29 Apr 2026UK£2.9tUK£2.0tUK£159.9b15.9x18.3x1.5x
Fri, 27 Mar 2026UK£2.8tUK£2.0tUK£157.1b14.8x17.8x1.4x
Sun, 22 Feb 2026UK£3.0tUK£2.0tUK£148.3b16.8x20.6x1.6x
Tue, 20 Jan 2026UK£2.9tUK£2.0tUK£137.7b16.6x21.2x1.5x
Thu, 18 Dec 2025UK£2.8tUK£2.0tUK£138.2b15.9x20.2x1.4x
Sat, 15 Nov 2025UK£2.8tUK£2.0tUK£139.4b16.3x19.9x1.4x
Mon, 13 Oct 2025UK£2.7tUK£1.9tUK£135.8b16.6x20x1.4x
Wed, 10 Sep 2025UK£2.7tUK£1.9tUK£136.0b16.4x19.7x1.4x
Fri, 08 Aug 2025UK£2.7tUK£2.0tUK£134.5b16.3x19.8x1.4x
Sun, 06 Jul 2025UK£2.5tUK£1.9tUK£126.8b16.3x19.6x1.3x
Tue, 03 Jun 2025UK£2.5tUK£1.9tUK£127.1b16.2x19.5x1.3x
Thu, 01 May 2025UK£2.4tUK£2.0tUK£131.0b15.5x18.5x1.2x
Sat, 29 Mar 2025UK£2.5tUK£2.0tUK£135.6b15.5x18.2x1.2x
Mon, 24 Feb 2025UK£2.5tUK£2.0tUK£137.6b16.2x18.2x1.2x
Wed, 22 Jan 2025UK£2.5tUK£2.1tUK£124.1b15.9x20.1x1.2x
Fri, 20 Dec 2024UK£2.4tUK£2.0tUK£123.0b15.7x19.4x1.2x
Sun, 17 Nov 2024UK£2.4tUK£2.0tUK£121.8b16.3x19.5x1.2x
Tue, 15 Oct 2024UK£2.4tUK£2.0tUK£118.8b16.3x20.2x1.2x
Thu, 12 Sep 2024UK£2.4tUK£2.0tUK£119.6b16.5x20.2x1.2x
Sat, 10 Aug 2024UK£2.4tUK£2.0tUK£123.3b16.4x19.6x1.2x
Mon, 08 Jul 2024UK£2.4tUK£2.0tUK£130.8b16.8x18.5x1.2x
Wed, 05 Jun 2024UK£2.5tUK£2.0tUK£129.6b16.7x19x1.2x
Fri, 03 May 2024UK£2.4tUK£2.1tUK£141.8b16.4x17.2x1.2x
Sun, 31 Mar 2024UK£2.4tUK£2.1tUK£145.9b16.4x16.5x1.1x
Tue, 27 Feb 2024UK£2.3tUK£2.0tUK£140.4b15.4x16.4x1.1x
Thu, 25 Jan 2024UK£2.3tUK£2.1tUK£193.3b14.9x11.8x1.1x
Sat, 23 Dec 2023UK£2.3tUK£2.1tUK£193.4b15.2x12.1x1.1x
Mon, 20 Nov 2023UK£2.3tUK£2.1tUK£194.4b14.4x11.7x1.1x
Wed, 18 Oct 2023UK£2.3tUK£2.2tUK£186.6b13.8x12.5x1.1x
Fri, 15 Sep 2023UK£2.4tUK£2.2tUK£185.8b14.7x12.7x1.1x
Sun, 13 Aug 2023UK£2.3tUK£2.1tUK£184.8b14.4x12.6x1.1x
Price to Earnings Ratio

12.6x


Total Market Cap: UK£2.3tTotal Earnings: UK£184.8bTotal Revenue: UK£2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
U.K. Market Price to Earnings3Y Average 17.9x202420252026
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 17.9x.
Past Earnings Growth
  • The earnings for British listed companies have declined 2.4% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the U.K. Market?

GB Market0.42%
Materials7.08%
Tech3.09%
Industrials2.87%
Energy2.09%
Financials2.01%
Real Estate-0.029%
Consumer Discretionary-0.40%
Utilities-1.31%
Telecom-2.52%
Consumer Staples-3.49%
Healthcare-7.51%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.1x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 18.3%, which is higher than its past year's earnings growth of 7.6% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading below its 3-year average of 17.5x.
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 Energy industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
RR. Rolls-Royce HoldingsUK£15.7013.8%
+UK£15.8b		44.3%PE42.9xIndustrials
RIO Rio Tinto GroupUK£75.117.7%
+UK£8.7b		66.8%PE13.6xMaterials
GLEN GlencoreUK£5.7310.1%
+UK£6.2b		101.3%PE16.7xMaterials
ANTO AntofagastaUK£40.5014.1%
+UK£4.9b		105.8%PE40.5xMaterials
BARC BarclaysUK£5.287.1%
+UK£4.7b		44.6%PB0.9xFinancials
See more

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Latest News

GLEN
UK£5.73
Glencore
7D
10.1%
1Y
101.3%
HSBA
UK£15.11
HSBC Holdings
7D
-2.4%
1Y
61.7%
BARC
UK£5.28
Barclays
7D
7.1%
1Y
44.6%
RR.
UK£15.70
Rolls-Royce Holdings
7D
13.8%
1Y
44.3%
BP.
UK£5.15
BP
7D
-5.3%
1Y
19.6%
ANTO
UK£40.50
Antofagasta
7D
14.1%
1Y
105.8%
Narrative Update • Aug 04

ANTO: Copper Supply Resilience And Free Cash Flow Timing Will Shape Future Returns

Antofagasta's updated fair value estimate edges up to about £38.80 from £38.00, as analysts balance slightly lower revenue growth assumptions with firmer profit margins and a higher future P/E. This is reflected in recent price target moves between about £33.40 and £45.00 across the Street.
NWG
UK£7.14
NatWest Group
7D
7.3%
1Y
35.8%
Analysis Article • Aug 04

NatWest Group plc Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

NatWest Group plc ( LON:NWG ) investors will be delighted, with the company turning in some strong numbers with its...
AZN
UK£120.36
AstraZeneca
7D
-8.4%
1Y
8.9%
LSEG
UK£86.28
London Stock Exchange Group
7D
-6.2%
1Y
-14.6%
BA.
UK£21.56
BAE Systems
7D
6.7%
1Y
16.0%
REL
UK£27.15
RELX
7D
-5.5%
1Y
-25.5%
Narrative Update • Aug 03

REL: AI Data Assets And Buybacks Will Support Future Earnings Multiple

Analysts have nudged their fair value estimate for RELX lower to about £33.91 from roughly £35.83, reflecting slightly higher discount rate assumptions alongside updated views on revenue growth, profit margins and future P/E multiples, informed by recent price target increases and positive commentary on the durability of growth in key divisions and the role of new AI products. Analyst Commentary Recent Street research on RELX shows a mix of optimism about growth durability and AI opportunities, with some caution around valuation and segment level risks.
BATS
UK£43.78
British American Tobacco
7D
-7.6%
1Y
3.4%
Narrative Update • Aug 02

BATS: Legal Overhang From Brazil Healthcare Case Will Constrain Future Upside

Analysts have nudged their fair value estimate for British American Tobacco from £39.07 to £39.51, reflecting updated assumptions for a slightly lower discount rate, modestly softer revenue growth, a higher profit margin, and a lower future P/E multiple. What's in the News for British American Tobacco From January 1, 2026 to June 30, 2026, British American Tobacco repurchased 14,609,571 shares for £649 million, representing 0.67% of its share capital, under its ongoing buyback programme.
AAL
UK£40.21
Anglo American
7D
11.6%
1Y
89.2%
ULVR
UK£47.74
Unilever
7D
-4.3%
1Y
-6.0%
Analysis Article • Jul 31

Unilever PLC (LON:ULVR) Interim Results Just Came Out: Here's What Analysts Are Forecasting For This Year

It's been a good week for Unilever PLC ( LON:ULVR ) shareholders, because the company has just released its latest...
RIO
UK£75.11
Rio Tinto Group
7D
7.7%
1Y
66.8%
Narrative Update • Jul 30

RIO: Strong Copper And Dividend Momentum Will Mask Iron Ore Risk

Analysts have trimmed the Rio Tinto Group fair value estimate to £60.16 per share from £57.92, reflecting a mix of lower Street price targets around £7,100 to £8,600, reduced long term revenue and margin assumptions, a slightly higher discount rate, and higher future P/E expectations following recent upgrades and downgrades. Analyst Commentary Recent Street research on Rio Tinto Group shows a split picture.
GSK
UK£19.16
GSK
7D
-4.6%
1Y
39.5%