HSBC Overtakes AstraZeneca as UK’s Most Valuable Company

HSBC Overtakes AstraZeneca as UK’s Most Valuable Company

HSBC has become the United Kingdom’s most valuable publicly listed company, overtaking pharmaceutical giant AstraZeneca in market capitalization.

The shift follows AstraZeneca’s decision to pause some of its expansion plans, which caused investor confidence in the drugmaker to cool. In contrast, strong earnings from the banking sector and rising investor appetite for financial stocks have pushed HSBC to the top spot on the London Stock Exchange.

Analysts say the change reflects a broader shift in sentiment, with markets favouring financial institutions over pharmaceuticals amid global interest rate adjustments and uncertainty in the healthcare sector.

The development marks the first time in years that a UK bank has led the market in valuation, highlighting renewed strength in the financial services industry.