LONDON -- European equity markets are starting the week flat to slightly lower Monday. Last week's rally coming to an end as hopes of a U.S. stimulus package are offset by disappointing Chinese trade data posted overnight showing that imports fell by 2.6% in July. The resulting fall in Asian markets did stall, however, with some speculating that, in a similar fashion to the U.S. data, these disappointing numbers may bring the Chinese government to implement some form of stimulus. Futures trading has Wall Street set to follow the European markets lower today, with the S&P 500 (INDEX: ^GSPC ) down about 0.2%.
Despite this uncertainty, there are, as always, some individual names outperforming. Here are three ADRs that are set to beat the S&P today.
Rio Tinto (NYSE: RIO )
The mining giant is up more than 2.2% in London today as trade data from China overnight, though broadly disappointing, did offer positive signals to the iron ore market. The numbers showed that China, the world's biggest importer of iron ore, imported 62.45 million tonnes of the metal last month. This represents the highest level since May -- an increase of almost 8% on that of July and almost 6% more than the 59 million tonnes imported during the same period last year.
Deutsche Bank (NYSE: DB )
Deutsche Bank is up around 1.7% today after the German magazine Der Spiegel reported that the company plans to sell real estate as part of its cost-cutting measures. The paper said DB plans to merge its London sites and cut costs in other cities, reorganizing its compliance and revision units. Expectations are that Deutsche Bank will undergo a massive revamp, with co-CEOs Anshu Jain and Juergen Fitschen set to present their strategy tomorrow.
Nokia (NYSE: NOK )
The Finnish handset maker is once again pushing higher today, up 1.2% on hopes that sales will see a turnaround following the release of new devices unveiled last week. The release saw some controversy after a promotional video for the new handsets included video clips and still photos that, although it was suggested so, were not actually taken with its new Lumia 920 smartphone. Nokia has now appointed an ethics officer to conduct a review of how and why this misleading material was published.
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.
The Motley Fool is helping Europe invest. Better. And with the eurozone economy so uncertain, we're urging everyone to read "10 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:
- The One European Share Warren Buffett Loves
- Eight ADRs Held By Britain's Super-Investor
- The Market's Top Sectors