LONDON -- European stock markets have shrugged off yesterday's stimulus efforts by central banks and are trading lower Friday as risk appetite in the continent wanes. Fears surrounding the eurozone debt crisis have resurfaced after Spain's 10-year bond yields once again reached the unsustainable 7% level.
Meanwhile, markets are looking to today's U.S. nonfarm payroll numbers for some signs of recovery, with hopes that the consensus estimate of a 90,000 increase may be beaten after the ADP report this week said the U.S. in fact hired more workers than expected in June. Early premarket trade has the S&P 500
Despite widely lackluster performance, there are a number of European companies making headway this morning. Here are three ADRs set to beat the S&P today.
U.K. insurer Aviva
The EU's competition regulators said that an alleged loss of revenue incurred by Hidroelectrica after signing contracts to sell electricity to Arcelor in 2009 is attributable to the Romanian state -- in effect suggesting that the company received electricity at loss-making prices, subsidized by the Romanian government. ArcelorMittal has been trading more than 1% higher in Europe.
French pharmaceutical Sanofi
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 Mr Buffett paid. 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 "Ten 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:
Karl does not own any share mentioned in this article. The Motley Fool owns shares of Arcelor Mittal. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.