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U.K. (FTSE) Market Analysis & Valuation

UpdatedJul 07, 2026
DataAggregated Company Financials
Companies1082
  • 7D1.7%
  • 3M3.0%
  • 1Y19.6%
  • YTD6.6%

Over the last 7 days, the market has risen 1.7%, driven by gains of 4.5% in the Financials sector. As for the past 12 months, the market is up 20%. Looking forward, earnings are forecast to grow by 11% 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
Tue, 07 Jul 2026UK£3.0tUK£2.0tUK£164.6b15.9x18.2x1.5x
Thu, 04 Jun 2026UK£2.9tUK£2.0tUK£164.9b15.8x17.7x1.4x
Sat, 02 May 2026UK£3.0tUK£2.0tUK£160.1b15.9x18.5x1.5x
Mon, 30 Mar 2026UK£2.8tUK£2.0tUK£157.6b14.6x17.7x1.4x
Wed, 25 Feb 2026UK£3.0tUK£2.0tUK£148.3b16.6x20.5x1.6x
Fri, 23 Jan 2026UK£2.9tUK£2.0tUK£137.5b16.8x21.2x1.5x
Sun, 21 Dec 2025UK£2.8tUK£2.0tUK£138.3b16x20.4x1.4x
Tue, 18 Nov 2025UK£2.8tUK£2.0tUK£139.2b16.3x19.9x1.4x
Thu, 16 Oct 2025UK£2.7tUK£1.9tUK£135.6b16.6x20x1.4x
Sat, 13 Sep 2025UK£2.7tUK£1.9tUK£135.4b16.4x19.8x1.4x
Mon, 11 Aug 2025UK£2.6tUK£1.9tUK£134.0b16.2x19.7x1.4x
Wed, 09 Jul 2025UK£2.5tUK£1.9tUK£127.1b16.3x19.7x1.3x
Fri, 06 Jun 2025UK£2.5tUK£1.9tUK£127.0b16.2x19.7x1.3x
Sun, 04 May 2025UK£2.4tUK£2.0tUK£130.7b15.8x18.7x1.2x
Tue, 01 Apr 2025UK£2.4tUK£2.0tUK£136.1b15.3x17.9x1.2x
Thu, 27 Feb 2025UK£2.5tUK£2.0tUK£137.4b16.1x18.3x1.3x
Sat, 25 Jan 2025UK£2.5tUK£2.1tUK£123.3b15.8x20.1x1.2x
Mon, 23 Dec 2024UK£2.4tUK£2.0tUK£122.8b16x19.4x1.2x
Wed, 20 Nov 2024UK£2.4tUK£2.0tUK£121.8b16.3x19.6x1.2x
Fri, 18 Oct 2024UK£2.4tUK£2.0tUK£118.9b16.6x20.5x1.2x
Sun, 15 Sep 2024UK£2.4tUK£2.0tUK£119.3b16.5x20.4x1.2x
Tue, 13 Aug 2024UK£2.4tUK£2.0tUK£123.3b16.3x19.7x1.2x
Thu, 11 Jul 2024UK£2.4tUK£2.0tUK£131.2b16.8x18.5x1.2x
Sat, 08 Jun 2024UK£2.5tUK£2.0tUK£129.9b16.8x18.9x1.2x
Mon, 06 May 2024UK£2.4tUK£2.1tUK£141.9b16.5x17.3x1.2x
Wed, 03 Apr 2024UK£2.4tUK£2.1tUK£146.2b16.2x16.4x1.1x
Fri, 01 Mar 2024UK£2.3tUK£2.0tUK£140.5b15.2x16.3x1.1x
Sun, 28 Jan 2024UK£2.3tUK£2.1tUK£193.0b15x12x1.1x
Tue, 26 Dec 2023UK£2.3tUK£2.1tUK£193.8b15.2x12.1x1.1x
Thu, 23 Nov 2023UK£2.3tUK£2.1tUK£194.6b14.3x11.6x1.1x
Sat, 21 Oct 2023UK£2.3tUK£2.2tUK£187.3b13.5x12.1x1x
Mon, 18 Sep 2023UK£2.4tUK£2.2tUK£185.6b14.8x12.8x1.1x
Wed, 16 Aug 2023UK£2.3tUK£2.1tUK£184.5b14.3x12.4x1.1x
Fri, 14 Jul 2023UK£2.3tUK£2.2tUK£204.3b14x11.4x1.1x
Price to Earnings Ratio

11.4x


Total Market Cap: UK£2.3tTotal Earnings: UK£204.3bTotal 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 17.7x.
Past Earnings Growth
  • The earnings for companies in the British industry have declined 7.0% per year over the last three years.
  • Revenues have also declined 2.0% 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 Market1.66%
Industrials4.88%
Financials4.52%
Tech2.09%
Materials1.37%
Energy0.16%
Real Estate-0.25%
Healthcare-0.49%
Utilities-0.62%
Consumer Staples-1.01%
Consumer Discretionary-1.32%
Telecom-1.48%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.7x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 16.9%, 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 10.2x.
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
SHEL ShellUK£30.112.7%
+UK£4.3b		15.6%PE12xEnergy
LSEG London Stock Exchange GroupUK£90.3410.7%
+UK£4.2b		-16.9%PE35.2xFinancials
AZN AstraZenecaUK£143.641.9%
+UK£4.1b		38.9%PE28.7xHealthcare
HSBA HSBC HoldingsUK£14.531.6%
+UK£3.9b		61.6%PB1.7xFinancials
BA. BAE SystemsUK£19.716.9%
+UK£3.6b		5.0%PE27.1xIndustrials
See more

Market Insights

Header cover image
Markets are supposed to reprice risk when it changes. This time they've repriced the promise, but left the threat largely untouched. Whether that's an oversight or a fair call is worth thinking through.
Continue reading
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Latest News

LSEG
UK£90.34
London Stock Exchange Group
7D
10.7%
1Y
-16.9%
SHEL
UK£30.11
Shell
7D
2.7%
1Y
15.6%
IHG
US$166.20
InterContinental Hotels Group
7D
-3.5%
1Y
39.9%
Narrative Update • Jul 06

IHG: Future Returns Will Hinge On RevPAR Trends And Net Unit Acceleration

InterContinental Hotels Group's analyst price targets have moved higher into a $188 to $195 range as analysts point to stronger than expected RevPAR momentum in the U.S., improving net unit growth and a healthier pipeline as key supports for the updated valuation. Analyst Commentary Recent research on InterContinental Hotels Group highlights a cluster of higher price targets, with analysts focusing on RevPAR trends, net unit growth and the development pipeline as key drivers behind their views on the stock's valuation and execution risk.
DPLM
UK£67.85
Diploma
7D
-4.8%
1Y
40.4%
AZN
UK£143.64
AstraZeneca
7D
1.9%
1Y
38.9%
RIO
UK£68.25
Rio Tinto Group
7D
-4.2%
1Y
58.3%
Narrative Update • Jul 02

RIO: Copper Projects And Logistics Savings Will Support Future Upside

The analyst price target for Rio Tinto Group is updated modestly higher to reflect a fair value move from £91.63 to £93.88, as analysts factor in slightly stronger revenue growth assumptions, a higher profit margin profile and a lower projected future P/E multiple, while also weighing mixed rating actions and valuation concerns across recent research. Analyst Commentary Recent research on Rio Tinto Group shows a mix of views, but several bullish analysts have lifted their price targets, pointing to what they see as supportive sector conditions and solid project execution.
HSBA
UK£14.53
HSBC Holdings
7D
1.6%
1Y
61.6%
STAN
UK£21.26
Standard Chartered
7D
4.2%
1Y
70.1%
Narrative Update • Jul 02

STAN: Fair Value Thesis Will Test Upgrades Against Indonesia Exposure And Execution

The analyst price target for Standard Chartered has been revised higher to £21.71 from £21.08, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as analysts factor in a series of recent upgrades and target increases across the Street. Analyst Commentary Recent Street research on Standard Chartered points to a cluster of target price upgrades and rating changes.
BATS
UK£46.36
British American Tobacco
7D
-0.9%
1Y
31.4%
HLMA
UK£37.30
Halma
7D
-5.2%
1Y
16.8%
Narrative Update • Jul 01

HLMA: Conviction List Upgrade Will Likely Fail To Justify Rich Multiple

Halma's analyst fair value estimate has shifted from £30.50 to about £33.74, as analysts highlight the company as a high quality compounding growth stock, supported by recent price target increases from several major banks and its inclusion on a European conviction list. Analyst Commentary Recent analyst commentary on Halma has centered on the stock's quality profile, its positioning as a long term growth compounder, and how that lines up with current valuation.
AAL
UK£36.10
Anglo American
7D
-2.4%
1Y
62.2%
Narrative Update • Jun 30

AAL: Copper Shift And Chile Projects Will Support Future Rerating

Anglo American's analyst fair value estimate has moved from £46.07 to £50.29 as analysts factor in revised revenue growth and margin assumptions, alongside a series of higher price targets, even as some ratings shift to Hold on valuation grounds and changing commodity mix views. Analyst Commentary Recent Street research on Anglo American shows a mix of caution on the rating side and optimism on valuation, with several bullish analysts lifting price targets even as some move to Hold.
GLEN
UK£5.09
Glencore
7D
-1.0%
1Y
66.0%
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.
BA.
UK£19.71
BAE Systems
7D
6.9%
1Y
5.0%
ULVR
UK£46.89
Unilever
7D
3.6%
1Y
-7.1%
RKT
UK£51.94
Reckitt Benckiser Group
7D
5.8%
1Y
-1.5%
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.
ANTO
UK£37.68
Antofagasta
7D
-1.4%
1Y
96.3%
Narrative Update • Jun 23

ANTO: Rising Execution Risks Will Likely Cap Copper Upside Potential

Antofagasta's updated fair value estimate has risen from £23.50 to £26.50 per share. This reflects analysts' higher price targets and assumptions for stronger top line growth, offset by slightly lower profit margins and a higher future P/E multiple.