European Construction, Building Materials & Infrastructure: Building Blocks

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European Construction, Building Materials & Infrastructure: Building Blocks

Equity Research

22 June 2026

European Construction, Building Materials & Infrastructure

Building Blocks

This week: 1) US sq footage recession persists, 2) US

management feedback (Vulcan & Ferguson), and 3) please

register to join our roundtable on carbon markets ahead of European& InfrastructureConstruction, Building Materials

the ETS review. Valuation sheet attached. NEUTRAL

European Transportation

NEUTRAL

European Construction, Building

Macro trends, news and data Materials & Infrastructure

Global Economics Weekly: Halftime Pierre Rousseau

+33 (0)1 4458 3377

With the first half of 2026 ending, the second half looks to be shaped by the US-Iran peace deal's pierre.rousseau@barclays.com

stability to moderate oil prices, the new Fed chair's inflation zeal and views on communication BBI, Paris

and the balance sheet, and AI's ongoing large capital needs and their expected investment

Tom Zhang, CFA

returns. Source: Global Economics Weekly: Halftime, 19 Jun 2026. +44 (0)20 3555 1395

tom.zhang1@barclays.com

European Equity Market Review: Hawkish central banks, dovish oil prices Barclays, UK

The global easing cycle is ending, as more central banks turn hawkish. A more decisive pivot

Katherine Hearne, CFA

towards fighting inflation would weaken the liquidity support to the bull market. But falling oil

+44 (0)20 7773 2041

is a promising development to prevent this scenario to materialise, and could help the rally to katherine.hearne@barclays.com

broaden out. Source: European Equity Market Review: Hawkish central banks, dovish oil prices, Barclays, UK

19 Jun 2026.

U.S. Machinery & Construction: Square Footage Recession Persists: May Andrew Lobbenberg

2026 +44 (0)20 3555 0639

andrew.lobbenberg@barclays.com