LONDON -- European equity markets have been trading flat to slightly higher today, direction having being somewhat muted ahead of the EU's 25-basis-point interest-rate cut to a record low of 0.75%. On this side of the Independence Day holiday, attention is now turning to tomorrow's U.S. nonfarm payroll data, with hopes that the numbers will offer signs of recovery. So far U.S. markets are showing a similar lack of direction to their European counterpart in early premarket trade, with the S&P 500 (INDEX: ^GSPC) set to open flat.

Even with this expectation of little movement, the S&P will still be beating a number of companies today. Here are three ADRs that are set to underperform.

Coca-Cola Hellenic Bottling
Coca-Cola Hellenic Bottling (NYSE: CCH) is one of the worst performers in the Greek market today, down more than 3.5% amid a broader risk-off attitude as many use the subdued volumes as an opportunity to take profit on short-term trades made during the recent turbulence.

That said, Coca-Cola Hellenic announced a number of issues impacting shares in its annual general meeting last week, including a share buyback of up to 18 million shares in the next 24 months and a reduction of the company's recorded share capital of almost 55 million euros via a nominal decrease in share price from 1.16 euros to 1.01 euros.

Veolia Environnement
Utility supplier Veolia Environnement (NYSE: VE) is suffering in Paris this morning, down 3.5% after French Prime Minister Jean-Marc Ayrault announced in a speech about nuclear power -- upon which he said the country will be reducing its reliance -- that France will also implement a massive plan of energy savings and set up "progressive" prices for gas, power, and water.

The company has already seen a number of news stories moving prices this week, including suggestions that it may sell its U.S. after it sold its U.K. water unit to a venture backed by Morgan Stanley.

Banco Bilbao Vizcaya Argentaria
Spanish bank Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) is also falling deep into the red this morning after it issued 239 million new shares yesterday, due to begin trading tomorrow. The company said in its official filing that these were issued to meet the partial conversion of a December 2011 convertible bond and will be listed in Madrid, Bilbao, Barcelona, and Valencia.

As usual, this morning's European trading saw some stocks lose ground -- and perhaps provide European buying opportunities. Indeed, legendary investor Warren Buffett has recently spent more than $1 billion buying a European large-cap stock that's currently trading well below its 2012 high. If you want to know what Buffett has bought within Europe, this special Motley Fool report -- "The One European Share Warren Buffett Loves" -- reveals everything, including the price he paid. You can download the report today for free. But hurry -- the report is available for a limited time only.

The Motley Fool is helping Europe invest. Better. And with the eurozone economy so uncertain, we're urging everyone to read "Ten Steps To Making A Million In The Market" -- this report may transform your wealth. Click here now to request your free, no-obligation copy.

Further Motley Fool investment opportunities: