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U.K. (FTSE) Market Analysis & Valuation

UpdatedJul 09, 2026
DataAggregated Company Financials
Companies1082
  • 7D-0.2%
  • 3M-1.3%
  • 1Y16.8%
  • YTD4.7%

Over the last 7 days, the market has risen 1.6%, driven by gains of 2.9% in the Financials sector. The market is up 19% over the last 12 months. 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
Thu, 09 Jul 2026UK£2.9tUK£2.0tUK£164.5b15.6x17.8x1.4x
Sat, 06 Jun 2026UK£2.9tUK£2.0tUK£165.1b15.9x17.7x1.4x
Mon, 04 May 2026UK£2.9tUK£2.0tUK£160.0b15.9x18.4x1.5x
Wed, 01 Apr 2026UK£2.9tUK£2.0tUK£157.9b15x18.1x1.4x
Fri, 27 Feb 2026UK£3.1tUK£2.0tUK£153.0b16.6x20.2x1.6x
Sun, 25 Jan 2026UK£2.9tUK£1.9tUK£137.0b16.8x21.3x1.5x
Tue, 23 Dec 2025UK£2.8tUK£2.0tUK£138.0b16x20.4x1.4x
Thu, 20 Nov 2025UK£2.7tUK£2.0tUK£139.2b16.1x19.6x1.4x
Sat, 18 Oct 2025UK£2.7tUK£1.9tUK£135.4b16.4x19.9x1.4x
Mon, 15 Sep 2025UK£2.7tUK£1.9tUK£135.4b16.4x19.8x1.4x
Wed, 13 Aug 2025UK£2.7tUK£1.9tUK£133.8b15.9x19.9x1.4x
Fri, 11 Jul 2025UK£2.5tUK£1.9tUK£127.0b16.2x19.9x1.3x
Sun, 08 Jun 2025UK£2.5tUK£1.9tUK£127.4b16.2x19.6x1.3x
Tue, 06 May 2025UK£2.4tUK£2.0tUK£130.7b15.8x18.7x1.2x
Thu, 03 Apr 2025UK£2.4tUK£2.0tUK£135.8b15.1x18x1.2x
Sat, 01 Mar 2025UK£2.5tUK£2.0tUK£138.9b15.7x18.1x1.2x
Mon, 27 Jan 2025UK£2.5tUK£2.1tUK£123.4b15.8x20.1x1.2x
Wed, 25 Dec 2024UK£2.4tUK£2.0tUK£123.0b15.9x19.5x1.2x
Fri, 22 Nov 2024UK£2.4tUK£2.0tUK£123.0b16.3x19.5x1.2x
Sun, 20 Oct 2024UK£2.4tUK£2.0tUK£118.7b16.5x20.5x1.2x
Tue, 17 Sep 2024UK£2.4tUK£2.0tUK£118.9b16.7x20.5x1.2x
Thu, 15 Aug 2024UK£2.4tUK£2.0tUK£122.4b16.6x19.9x1.2x
Sat, 13 Jul 2024UK£2.4tUK£2.0tUK£129.8b17x18.8x1.2x
Mon, 10 Jun 2024UK£2.5tUK£2.0tUK£130.0b16.8x18.9x1.2x
Wed, 08 May 2024UK£2.5tUK£2.1tUK£137.4b16.8x18x1.2x
Fri, 05 Apr 2024UK£2.4tUK£2.1tUK£145.9b16x16.5x1.2x
Sun, 03 Mar 2024UK£2.3tUK£2.0tUK£142.0b15.3x16.3x1.1x
Tue, 30 Jan 2024UK£2.3tUK£2.1tUK£192.9b14.8x12x1.1x
Thu, 28 Dec 2023UK£2.3tUK£2.1tUK£193.1b15x12.2x1.1x
Sat, 25 Nov 2023UK£2.3tUK£2.1tUK£193.7b14.4x11.7x1.1x
Mon, 23 Oct 2023UK£2.3tUK£2.2tUK£187.2b13.5x12.1x1x
Wed, 20 Sep 2023UK£2.3tUK£2.2tUK£185.5b14.5x12.7x1.1x
Fri, 18 Aug 2023UK£2.3tUK£2.1tUK£184.0b14.3x12.3x1.1x
Sun, 16 Jul 2023UK£2.3tUK£2.2tUK£204.7b14x11.3x1.1x
Price to Earnings Ratio

11.3x


Total Market Cap: UK£2.3tTotal Earnings: UK£204.7bTotal 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 Market-0.23%
Energy6.38%
Utilities2.67%
Healthcare2.58%
Consumer Staples1.34%
Financials-0.75%
Real Estate-1.23%
Industrials-1.39%
Telecom-1.54%
Consumer Discretionary-1.84%
Tech-6.27%
Materials-6.97%
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 17.0%, 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£30.807.2%
+UK£11.5b		17.2%PE12.3xEnergy
AZN AstraZenecaUK£142.402.8%
+UK£6.0b		37.4%PE28.5xHealthcare
BP. BPUK£4.917.8%
+UK£5.5b		27.8%PE31.7xEnergy
LSEG London Stock Exchange GroupUK£88.626.1%
+UK£2.5b		-18.2%PE34.5xFinancials
GSK GSKUK£19.802.6%
+UK£2.0b		38.9%PE13.5xHealthcare
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

HSBA
UK£14.22
HSBC Holdings
7D
-1.3%
1Y
56.9%
GSK
UK£19.80
GSK
7D
2.6%
1Y
38.9%
Narrative Update • Jul 07

GSK: Pipeline Reinvestment And Legal Risks Will Shape Balanced Long Term Outlook

Analysts have nudged their GSK fair value estimate higher to about £21.14 from £20.32, reflecting slightly stronger revenue growth assumptions, a modestly higher future P/E multiple, and an updated view on margins following recent research commentary. Analyst Commentary Recent Street research on GSK gives you a mixed but gradually improving picture, with some analysts acknowledging progress on execution and others still focused on long standing risks around the portfolio and legal overhangs.
LSEG
UK£88.62
London Stock Exchange Group
7D
6.1%
1Y
-18.2%
BP.
UK£4.91
BP
7D
7.8%
1Y
27.8%
SHEL
UK£30.80
Shell
7D
7.2%
1Y
17.2%
ANTO
UK£35.27
Antofagasta
7D
-6.6%
1Y
89.2%
Narrative Update • Jul 07

ANTO: Copper Delivery Risks And Cash Generation Outlook Will Shape Future Returns

The analyst price target for Antofagasta has been revised higher to an implied fair value of £37.96 from £35.96. This reflects analysts' focus on peer-leading production growth, expected free cash flow inflection and generally supportive revisions to Street targets, despite some differing views on the stock.
NG.
UK£12.48
National Grid
7D
3.0%
1Y
20.7%
RR.
UK£13.99
Rolls-Royce Holdings
7D
-4.2%
1Y
42.2%
AZN
UK£142.40
AstraZeneca
7D
2.8%
1Y
37.4%
RIO
UK£64.90
Rio Tinto Group
7D
-8.6%
1Y
51.8%
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.
BATS
UK£46.11
British American Tobacco
7D
1.7%
1Y
28.1%
NWG
UK£6.51
NatWest Group
7D
-4.1%
1Y
30.9%
AAL
UK£33.81
Anglo American
7D
-9.2%
1Y
55.8%
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£4.91
Glencore
7D
-4.2%
1Y
64.5%
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£46.40
Unilever
7D
1.7%
1Y
-7.2%
BARC
UK£4.97
Barclays
7D
-3.5%
1Y
46.4%
Narrative Update • Jun 25

BARC: Buyback And Youth Platform Acquisition Are Expected To Support Steady Returns

Analysts have nudged their fair value estimate for Barclays stock from £5.39 to £5.49, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E that together support a slightly higher price target. What’s in the News for Barclays Barclays is under scrutiny over its previous dealings with Market Financial Solutions, after reportedly reducing exposure and blocking transactions when financial irregularities were identified, while some creditors question why other banks were not warned about concerns ahead of the lender’s collapse and £1.3b fraud allegations (source: recent investigative reporting).