LONDON -- Stocks have taken on a more positive note Tuesday, helped after German GDP data came in slightly better than expected. The numbers from the Federal Statistics Office showed GDP rose 0.3% from the first quarter, comparing favorably with analyst estimates of 0.1% to 0.2%. European markets received a tailwind from the Asian session after minutes were released showing that several Bank of Japan policymakers support stimulating the economy, while wider attention now turns to several economic releases over the next few days for further direction. Futures trading has the U.S. market showing slightly more muted gains than the European indexes, with the S&P 500 (INDEX: ^GSPC ) set to open 0.2% higher.
Even with these gains, there are some individual names that are outperforming. Here are three American depositary receipts that are set to beat the S&P today.
Delhaize Group (NYSE: DEG )
The Belgian supermarket operator is up 3.5% today, hitting a three-month high after analysts at Citigroup raised their recommendation on the stock, saying they expect cash flow in the company's latest report, due next week, to be better than expected. The analysts suggested that the company's free-cash flow was strong compared to peers and said that the stock's sharp declines this year now more than reflect the company's drop in operating profit.
ASML Holding (Nasdaq: ASML )
The maker of semiconductor manufacturing equipment is up more than 1.4% in London, bouncing back from a mild sell-off yesterday as dip-buying opportunities squeeze the price. Last week the company saw strong support after it announced that it will be receiving 1.1 billion euros from Taiwan Semiconductor Manufacturing for investment in its research and development of cutting-edge equipment, while TSM takes a 5% stake in ASML's Netherland-based Veldhoven, for 832 million euros.
Telefonica (NYSE: TEF )
The Spanish telecommunications provider is up 1.1% Tuesday, also seen bouncing back from last week, when performance was soft despite a report in Economista that the company won a 448 million euro contract to provide broadband connections and fixed-line phone calls to the Catalan regional government for the next 10 years. The company's shares also saw some mild support toward the end of last week thanks to the knock-on impact from better-than-expected earnings from Deutsche Telekom (NASDAQOTH: DTEGY.PK).
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 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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