The bull and bear statue outside the Frankfurt Stock Exchange. European stocks have outperformed their US counterparts by 15 per cent since September. Photograph: Alex Kraus/Bloomberg European stocks have outperformed their US counterparts by 15 per cent since September. Can Europe continue to outperform? The short-term outlook looks “trickier”, say Barclays strategists. They suggest the three factors driving European outperformance – energy prices retreating to levels before Russia’s invasion of Ukraine, China’s economic reopening and Europe’s banking system proving resilient to US banking woes – have “largely played out now”. Add in renewed macro headwinds and Barclays sees little near-term...