LONDON -- European stock markets are attempting to end the week on a slightly positive note after weak Chinese GDP data overnight added to speculation that the country will need to implement growth stimulus measures. Gains are somewhat muted, however, after ratings agency Moody's downgraded Italian debt two notches to "Baa2," citing slow growth and contagion risk from Greece and Spain. Yet early premarket trade has U.S. markets pegged to rise, with the S&P 500
Even on a day when sentiment seems positive, there are, as always, a number of individual names suffering losses. Here are three American depository receipts set to underperform the S&P today.
German Deutsche Bank is losing ground in Frankfurt today, down more than 1% after a report by Morgan Stanley said the bank is set to face some of the highest litigation costs of the 16 banks facing potential fines surrounding the LIBOR-fixing scandal.
The report suggested that Deutsche Bank and the Royal Bank of Scotland
The Finnish phone maker is slumping in Europe after it announced today that it will close four regional sales offices in China as part of the restructuring plan it announced last month.
The move comes after the company said in June that it would cut as many as 10,000 jobs globally and close numerous facilities as it attempts to stem the losses it has been suffering through its falling smartphone sales.
The Dutch financial is suffering some profit-taking Friday following gains made this week on news that its Asian insurance business was subject to a bid from investors led by Blackstone Group.
Reports suggested that the group would make an offer between 5 billion euros and 5 billion euros for the business, which needs to be made by the deadline of July 16. ING is down around 0.7%.
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