Monge, Manuel Aracil Jordá, Jorge Infante Infante, Juan 2026-04-14T14:53:12Z 2026-04-14T14:53:12Z 2025-04-08 2634-3584 https://doi.org/10.63332/joph.v5i1.675 Artículos en revistas . This paper examines the relationship between capital expenditures (CAPEX) in the private sector and the performance of the UK stock market, specifically focusing on the manufacturing and non-manufacturing sectors. Using quarterly CAPEX data for UK private sector firms and FTSE index data spanning from Q1 1997 to Q1 2024, we employ a robust methodological framework that integrates fractional integration analysis, Granger causality tests, and Continuous Wavelet Transform (CWT). The findings reveal sector-specific dynamics. CAPEX in the non-manufacturing sector exhibits a significant positive causal relationship with FTSE index movements, particularly in short- and medium-term horizons, highlighting its role as a leading indicator of market performance. In contrast, CAPEX in the manufacturing sector demonstrates weaker and less immediate correlations, reflecting its long-term, structural nature and sensitivity to economic cycles. Persistence analysis confirms the long memory behavior of both CAPEX series, with non-manufacturing investments displaying higher stability and predictability. These results underscore the heterogeneity of CAPEX impacts across sectors and emphasize the importance of distinguishing between short-term and long-term investment responses when evaluating stock market dynamics. application/pdf es-ES Creative Commons Reconocimiento-NoComercial-SinObraDerivada España http://creativecommons.org/licenses/by-nc-nd/3.0/es/ Revista: Journal of posthumanism, Periodo: 1, Volumen: 5, Número: 1, Página inicial: 1338, Página final: 1353. Capital Expenditure Decisions in the Private Sector and Their Impact on Uk Stock Market Performance A Fractional Integration Analysis info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion info:eu-repo/semantics/openAccess . Capex, Non-Manufacturing Companies, Manufacturing Companies, Market Capitalization, Causality Test, Wavelet Analysis