LONDON -- European equity markets are seeing another day of losses Wednesday, directed form the outset by overnight trading in Asia, where stocks were under pressure following disappointing Chinese manufacturing data. The HSBC Flash China manufacturing purchasing managers' index showed that the country's factory production is continuing to slow, although it did climb slightly to 47.8 from 47.6 last month, increasing concerns of economic slowdown and the impact of recovery and stimulus measures. Early trade shows that Wall Street is likely to follow the European markets at the open, with the S&P 500 (INDEX: ^GSPC ) down almost 0.5%.
Despite this broad weakness, there are, as always, some individual names outperforming. Here are three American depositary receipts that are set to beat the S&P today.
Coca-Cola Hellenic Bottling (NYSE: CCH )
The bottling giant is up almost 3% in Athens today, bolstered after it was included in the 2012 Dow Jones Sustainability Index for the fourth consecutive year. This lists the company as one of the world's top beverage companies by sustainability, being just one of four beverage companies in the index. This comes days after news the company is looking at options for listing its stock on other exchanges, including a potential move to London as its primary listing, which may well see it included in the FTSE 100 index of largest British companies.
Ryanair Holdings (Nasdaq: RYAAY )
The Irish budget airline is up 1.3% Wednesday thanks to findings by the country's aviation authority. It was concluded that Ryanair planes that had been diverted because of bad weather in Madrid, forcing them to declare emergencies due to low fuel, had set off with sufficient amounts of kerosene in excess of flight-plan requirements. Although levels were found to be approaching minimum levels by the time the three planes landed, there was no immediate danger.
Grifols (Nasdaq: GRFS )
The Spanish maker of plasma derivative products and services is up 1.2% today, continuing to benefit from news earlier this week that it will expand its North American. Grifols' subsidiary, Biomat USA, will purchase three U.S. plasma donation centers from Cangene, although the exact terms of the deal have not yet been made public.
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.
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