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U.K. (FTSE) Market Analysis & Valuation

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies1080
  • 7D-0.8%
  • 3M-1.1%
  • 1Y19.7%
  • YTD3.5%

In the last week, the market has stayed flat, however the Materials sector stood out, gaining 4.5%. More promisingly, the market is up 20% over the past year. 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
Sat, 09 May 2026UK£2.9tUK£2.0tUK£161.0b16.1x18.1x1.4x
Mon, 06 Apr 2026UK£2.9tUK£2.0tUK£158.5b15.1x18.5x1.5x
Wed, 04 Mar 2026UK£3.0tUK£2.0tUK£151.1b16.5x19.6x1.5x
Fri, 30 Jan 2026UK£2.9tUK£1.9tUK£136.4b17x21.5x1.5x
Sun, 28 Dec 2025UK£2.8tUK£2.0tUK£137.9b16.1x20.5x1.4x
Tue, 25 Nov 2025UK£2.7tUK£2.0tUK£139.2b15.9x19.6x1.4x
Thu, 23 Oct 2025UK£2.7tUK£1.9tUK£135.7b16.6x20.2x1.4x
Sat, 20 Sep 2025UK£2.7tUK£1.9tUK£135.9b16.4x19.6x1.4x
Mon, 18 Aug 2025UK£2.7tUK£1.9tUK£133.8b15.9x19.8x1.4x
Wed, 16 Jul 2025UK£2.5tUK£1.9tUK£127.7b16x19.7x1.3x
Fri, 13 Jun 2025UK£2.5tUK£1.9tUK£127.2b16.4x19.8x1.3x
Sun, 11 May 2025UK£2.4tUK£2.0tUK£130.8b16x18.6x1.2x
Tue, 08 Apr 2025UK£2.2tUK£2.0tUK£137.3b14.1x16x1.1x
Thu, 06 Mar 2025UK£2.5tUK£2.0tUK£137.8b15.9x18.2x1.3x
Sat, 01 Feb 2025UK£2.5tUK£2.0tUK£123.8b15.9x20.4x1.2x
Mon, 30 Dec 2024UK£2.4tUK£2.0tUK£122.5b15.9x19.6x1.2x
Wed, 27 Nov 2024UK£2.4tUK£2.0tUK£123.5b16.2x19.6x1.2x
Fri, 25 Oct 2024UK£2.4tUK£2.0tUK£123.3b16.1x19.8x1.2x
Sun, 22 Sep 2024UK£2.4tUK£2.0tUK£118.1b16.9x19.9x1.2x
Tue, 20 Aug 2024UK£2.5tUK£2.0tUK£121.6b16.9x20.3x1.2x
Thu, 18 Jul 2024UK£2.4tUK£2.0tUK£128.8b16.9x18.7x1.2x
Sat, 15 Jun 2024UK£2.4tUK£2.1tUK£130.3b16.4x18.6x1.2x
Mon, 13 May 2024UK£2.5tUK£2.1tUK£136.5b16.9x18.4x1.2x
Wed, 10 Apr 2024UK£2.4tUK£2.1tUK£145.8b16x16.5x1.1x
Fri, 08 Mar 2024UK£2.3tUK£2.1tUK£145.6b15.9x16x1.1x
Sun, 04 Feb 2024UK£2.3tUK£2.1tUK£183.3b14.8x12.5x1.1x
Tue, 02 Jan 2024UK£2.3tUK£2.1tUK£193.7b15.1x12.1x1.1x
Thu, 30 Nov 2023UK£2.2tUK£2.1tUK£193.3b14.4x11.6x1.1x
Sat, 28 Oct 2023UK£2.2tUK£2.2tUK£186.4b13.4x11.8x1x
Mon, 25 Sep 2023UK£2.3tUK£2.2tUK£186.8b14.6x12.1x1x
Wed, 23 Aug 2023UK£2.2tUK£2.1tUK£184.1b14.3x12.2x1x
Fri, 21 Jul 2023UK£2.4tUK£2.2tUK£206.8b14.2x11.6x1.1x
Sun, 18 Jun 2023UK£2.4tUK£2.2tUK£207.5b14.3x11.5x1.1x
Tue, 16 May 2023UK£2.4tUK£2.2tUK£210.9b14.4x11.6x1.1x
Price to Earnings Ratio

11.6x


Total Market Cap: UK£2.4tTotal Earnings: UK£210.9bTotal 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 2.9% 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-0.81%
Materials4.51%
Telecom3.09%
Tech2.77%
Consumer Discretionary2.42%
Real Estate0.94%
Financials-1.01%
Industrials-1.23%
Consumer Staples-1.49%
Healthcare-1.92%
Utilities-3.05%
Energy-5.85%
Sector PE
  • Investors favour the Tech sector the most for future growth, which is trading close to its 3-year average PE ratio of 52.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 16.3%, which is higher than its past year's earnings growth of 7.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Telecom sector, expecting annual earnings growth of 42% 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 6.8% 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
RIO Rio Tinto GroupUK£77.044.2%
+UK£5.1b		71.3%PE17.1xMaterials
ANTO AntofagastaUK£38.989.8%
+UK£3.4b		124.8%PE39.3xMaterials
AAL Anglo AmericanUK£38.497.2%
+UK£2.8b		65.5%PS3xMaterials
FRES FresnilloUK£35.729.7%
+UK£2.3b		236.7%PE25.9xMaterials
BT.A BT GroupUK£2.369.0%
+UK£1.9b		42.9%PE24.8xTelecom
See more

Market Insights

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Latest News

REL
UK£24.60
RELX
7D
-8.8%
1Y
-39.0%
BP.
UK£5.36
BP
7D
-6.3%
1Y
43.9%
HSBA
UK£13.20
HSBC Holdings
7D
-2.9%
1Y
55.4%
BA.
UK£19.34
BAE Systems
7D
-4.9%
1Y
14.6%
RR.
UK£12.20
Rolls-Royce Holdings
7D
1.7%
1Y
54.1%
CPG
US$29.50
Compass Group
7D
4.4%
1Y
-14.8%
DGE
UK£15.44
Diageo
7D
4.3%
1Y
-29.1%
AZN
UK£133.44
AstraZeneca
7D
-1.2%
1Y
30.3%
SHEL
UK£31.03
Shell
7D
-5.7%
1Y
26.2%
FRES
UK£35.72
Fresnillo
7D
9.7%
1Y
236.7%
Narrative Update • May 04

FRES: Production Slippage And Mixed Street Views Will Pressure Future Returns

Fresnillo’s analyst fair value estimate has been adjusted from £23.88 to £24.72. The change reflects recent mixed price target revisions across the Street and updated assumptions on long term revenue growth, profit margins and future P/E expectations.
ULVR
UK£42.75
Unilever
7D
-3.0%
1Y
-19.5%
LSEG
UK£90.38
London Stock Exchange Group
7D
-6.1%
1Y
-20.0%
Narrative Update • May 03

LSEG: Activist Pressure And AI Partnerships Will Support Future Share Upside

Analysts have nudged their price targets on London Stock Exchange Group higher, with one recent move adding £1.00. This reflects updated views on fair value, discount rate, revenue growth assumptions, profit margin and future P/E levels.
BT.A
UK£2.36
BT Group
7D
9.0%
1Y
42.9%
Narrative Update • May 03

BT.A: Fibre Monetisation Execution Risks Will Likely Restrain Free Cash Flow Upside

Analysts have nudged their average price targets on BT Group higher, with recent moves to around £1.50 per share, helped by views that fibre monetisation could support stronger free cash flow over time. Analyst Commentary Recent research on BT Group has included both positive and cautious viewpoints, giving you a mixed picture of how the market is framing the current setup.
AAL
UK£38.49
Anglo American
7D
7.2%
1Y
65.5%
Narrative Update • May 02

AAL: Geopolitical And Commodity Risks Will Limit Post Teck Merger Upside

Analysts have raised the fair value estimate for Anglo American from £21.07 to £21.89 per share. This reflects a combination of recent price target changes, rating revisions, and updated views on revenue, margins and future P/E assumptions across the Street.
ANTO
UK£38.98
Antofagasta
7D
9.8%
1Y
124.8%
Narrative Update • Apr 29

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£77.04
Rio Tinto Group
7D
4.2%
1Y
71.3%
Narrative Update • Apr 29

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.