LONDON -- European equity markets are lower Thursday, with investors cautious ahead of today's U.S. Federal Reserve announcement on further stimulus measures. In Europe, money has been flowing away from riskier assets and into perceived safe havens, with German bund yields hitting new lows and defensive stocks gaining ground. Futures trading had the U.S. markets seeing somewhat more muted weakness today, with the S&P 500 (INDEX: ^GSPC ) down less than 0.2%.
Even with U.S. stocks looking set to fall, there a number of European names seeing even more dire performance. Here are three American depositary receipts the S&P should beat today.
Logitech International (Nasdaq: LOGI )
The computer accessory manufacturer is down 8% today, hit by a raft of profit-taking and large selling pressure as investors move to safe havens. Last week the company announced a one-off dividend of 0.80 Swiss francs at its annual general meeting, bringing about a steep climb in the company's share price.
Coca-Cola Hellenic Bottling (NYSE: CCH )
CCH is down almost 4% in Athens today as investors and traders alike move their money from riskier assets and countries to perceived safe havens. This also comes as parent company Coca-Cola said that in conjunction with its bottling partners, it will be spending $30 billion in markets around the world over the next five years. This investment boost comes as part of the company's "2020 vision" program, which aims to double its revenue in the next eight years.
Nokia (NYSE: NOK )
Nokia shares are down almost 2% today -- the most in a week -- following the launch of Apple's (Nasdaq: AAPL ) new iPhone 5 yesterday. The company had pre-empted the launch with that of its own Lumia 920 and 820 smartphones last week, although the great reception and speculated demand for the latest iPhone now has many betting this will not be enough for the flagging company to get a hold on the highly competitive market.
As usual, this morning's European trading saw some stocks lose ground -- and perhaps provide some European buying opportunities. Indeed, legendary investor Warren Buffett has recently spent more than $1 billion buying a European large-cap stock that's currently trading well below its 2012 high.
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