European Construction, Building Materials & Infrastructure: Building Blocks

Research evidence excerpt

European Construction, Building Materials & Infrastructure: Building Blocks

Equity Research

19 May 2026

European Construction, Building Materials & Infrastructure

Building Blocks

This week: 1) Q1 results (WIE, HOT/ACS, BZU, FGR), 2) new US

construction data (March products imports, price & cost

tracker, aggregates share data), & 3) European airports European& InfrastructureConstruction, Building Materials

scenario analysis. May Euro Leadership Conference (DG, FGR, NEUTRAL

HOLN, SIKA, ACS) this Thursday in London. Valuation sheet European Transportation NEUTRAL

included. European Construction, Building

Materials & Infrastructure

Pierre Rousseau

+33 (0)1 4458 3377

Macro trends, news and data pierre.rousseau@barclays.com

BBI, Paris

Global Economics Weekly: Leaders meet and bonds shriek

The Trump-Xi meeting did not deliver any tangible outcomes, with no shared approach to Tom Zhang, CFA

+44 (0)20 3555 1395reopening the Strait of Hormuz. As energy-driven price pressures pile up against a still-resilient

tom.zhang1@barclays.com

US consumer, inflation becomes the focus. Long-end yields surged and even Fed hikes came Barclays, UK

into investors' view. Source: Global Economics Weekly: Leaders meet and bonds shriek, 15 May

2026. Katherine Hearne, CFA

+44 (0)20 7773 2041

European Equity Market Review: Inflation returns katherine.hearne@barclays.com

Barclays, UK

Inflation jump puts rate hikes back on the table. Tricky time for new Fed chair Warsh to take

office, but hawkish pivot unlikely. As UK politics add to bond market woes, strong earnings help Vijay Phani Sekhar Naraharisetty

+91 (0)22 6175 2384equities shrug off rising yields. Value best inflation hedge, oil drop needed for consumer plays to

vijayphanisekhar.naraharisetty@barclays.com

bounce.