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LONDON -- European equity markets are mixed Tuesday, with peripheral countries seeing a far more buoyant session than their counterparts in the core EU. Yesterday's Labor Day holiday leaves many on the continent waiting to see how the U.S. markets open today, with hopes that they will climb to catch up with the rally in European stocks at the start of the week. Meanwhile, all eyes are on the manufacturing report coming from the U.S. today in hope of an economic recovery, given last week's poor numbers from Asia and the EU. So far futures trading is offering little insight into the U.S. markets, with the S&P 500 (INDEX: ^GSPC ) currently flat.
Amid this mixed session, there are, as always, some individual names outperforming. Here are three American depositary receipts that are set to beat the S&P today.
Telefonica (NYSE: TEF )
The phone giant is up almost 3% today following news that the EU is set to offer unconditional approval of its U.K. joint venture with Vodafone Group (Nasdaq: VOD ) and Everything Everywhere. The company, which operates under the name O2 in the U.K., is set to make a joint mobile-phone payment platform with its joint venture partners, and speculation is coming forth that the European Commission may approve the deal as early as this week.
Banco Santander (NYSE: SAN )
The Spanish banking giant is up 1% today, buoyed by generally positive trading in the country's financials after the government said over the weekend that it will recapitalize state-owned Bankia Group after it posted a 4.5 billion euro loss. Spain's bank rescue fund, FROB, is set to inject between 4 billion euros and 5 billion euros into the nation's third-biggest lender over the next two weeks, reiterating the efforts the country and the EU will go to in order to secure the strength and liquidity of the banking system.
BT Group (NYSE: BT )
The U.K.'s largest fixed-line phone company is also up almost 1% today, seeing general safe-haven investment amid the uncertain market moves more broadly today. Last week the company said it raised $251 million by selling part of its stake in the Indian software developer Tech Mahindra. BT sold 17.9 million shares -- 14% of its stake -- in the company to institutional investors for an average price of 777.73 rupees per share, and it may consider offloading more in future. The move leaves BT with a 9% share in the software company, although it did reiterate that Tech Mahindra will remain a key supplier.
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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Further Motley Fool investment opportunities:
- The One European Share Warren Buffett Loves
- Eight ADRs Held By Britain's Super-Investor
- The Market's Top Sectors