European Equity Factor Insights: Value shines, Momentum struggles

研报英文原文证据摘录

European Equity Factor Insights: Value shines, Momentum struggles

Equity Research

Equity Strategy

9 June 2026

European Equity Factor Insights

Value shines, Momentum struggles SIGNATURE

Momentum losing strength as earnings support rolls over.

Leadership also more tilted to energy now, raising unwind

risk if ME de-escalation. Value offers the cleanest catch-up European Equity Strategy

and MOMO hedging, while benefiting from higher rates. Emmanuel+44 (0)20 7773Makonga2593

emmanuel.makonga@barclays.comQuality bounce looks fragile given sticky inflation.

Barclays, UK

Europe factor analysis and views: June 2026 Emmanuel Cau, CFA

+44 (0)20 3134 0475

Please register here to join our conference call on the EU factors update on Tuesday, 9 June. emmanuel.cau@barclays.com

Please note: our updated basket constituents are available here – Barclays Equity Factor Monitor,

2 June. Magesh Kumar Chandrasekaran, CFA

+44 (0)20 3134 5983

Key insights magesh.kumarchandrasekaran@barclays.com

• Momentum holding high but losing steam. Earnings revisions have rolled over while price Arihanth Bohra Jain

action remains elevated, leaving the Momo pair increasingly fragile. Positioning has eased +91 (0)22 6175 1406

marginally but remains elevated, offering only limited cushion. High momentum pivot arihanth.bohrajain@barclays.com

towards war/energy beneficiaries tightens leadership and raises asymmetry - any Barclays, UK

ceasefire/de-escalation development risks an abrupt unwind of momentum, with Value being

a key beneficiary.

• Higher rates underpin the Value case. Monetary policy is turning tighter, but Value has been

slow to reprice the hawkish shift, creating a catch-up opportunity. With inflation sticky and