LONDON -- European stocks are seeing a slightly mixed session Tuesday, with markets consolidating gains as confidence surrounding Europe and the central bank's commitment to saving the euro boost sentiment. Confirmation yesterday that Germany would be backing the ECB's bond buyback program is still offering some help, while the lack of an interest rate reduction in Australia overnight has been taken as a sign of a more positive outlook in Asia; the Australian market is very dependent on China particularly. U.S. market seem to be following a similar pattern, with early premarket trade showing the S&P 500 (INDEX: ^GSPC ) set to open near flat.
In this mixed session, some stocks are floating to the top. Here are three ADRs that are set to beat the S&P today.
Nokia (NYSE: NOK )
The Finnish phone maker is seeing another day of gains Tuesday, up 5.4% amid news that it will unveil the first Windows 8 smartphone in September, ahead of Apple's (NYSE: AAPL ) iPhone announcement, which is due to take place on Sept. 12. The company has already hinted that if this latest phone does not prove to be a success, it may consider changing to a new platform.
BP (NYSE: BP )
The oil giant is up 2% in London today, helped by a broader recovery in oil prices and an announcement that the company will invest $60 million in U.K.-led research into new materials and processes that could one day improve the company's deep-drilling capabilities.
This came as news emerged that workers at a BP-Pan American Energy joint venture in Argentina may resume striking tomorrow, not having accepted the extension of the current 15-day conciliation period that ends today.
ASML Holding (Nasdaq: ASML )
The chip maker is up 1.7% in London today after it was revealed yesterday that it will receive 1.1 billion euros from Taiwan Semiconductor Manufacturing for investment in its research and development for cutting-edge equipment. At the same time, TSM will take a 5% stake in ASML's Netherland-based Veldhoven, for 832 million euros.
Despite the ongoing eurozone troubles, this morning's European trading did provide some winners -- and perhaps some European buying opportunities. Indeed, legendary investor Warren Buffett has recently spent more than $1 billion buying the stock of a prominent European large cap. If you want to know why Mr. Buffett has bought into 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.
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