LONDON -- Stocks are falling in Europe Wednesday after overnight Japanese trade data showed that the country had a wider-than-expected deficit. Meanwhile, Jean-Claude Juncker, prime minister of Luxembourg and head of the group of euro-area finance ministers, will visit Athens today to hear an official request from Greek Prime Minister Antonis Samaras for a two-year extension to the country's fiscal adjustment program. Futures trading has U.S. market on similar ground to those in Europe, with the S&P 500
Within this weak market, there are, as always, some companies rising to the top. Here are three ADRs that are set to beat the S&P today.
The supermarket operator and owner of U.S. Food Lion stores is up more than 5% today after it reported better-than-expected sales and revenue growth. The company said like-for-like sales growth in its 434-strong Food Lion chain climbed 3% in the second quarter, boosted as reduced prices brought in more customers. The company also reported operating profit falling 18% to 184 million euros, beating estimates in the 174 million euro region.
The Finnish phone maker is up 2.6% today following news that Verizon Wireless will sell Nokia's latest handset, which will use Microsoft's Windows 8 operating system, when it is released in early September. The move will be significant for Nokia in establishing greater market presence in the smartphone market while helping Verizon reduce its dependence on Apple's iPhone and Google's Android phones.
Deutsche Bank is seeing decent gains today, up almost 2% after a news report in Berlin said that a government official confirmed the bank would have no difficulty fulfilling the extra capital requirements imposed on it by global regulators. The bank, which was part of a list of 29 lenders that were deemed "too big to fail," was ordered by G20 regulators and central bankers to hold greater capital reserves to guard against insolvency and the potential impact this would have on the broader financial system.
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.
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Karl Loomes does not own any share mentioned in this article. The Motley Fool owns shares of Microsoft, Apple, and Google. Motley Fool newsletter services have recommended buying shares of Apple, Microsoft, and Google. Motley Fool newsletter services have recommended creating a synthetic covered call position in Microsoft. Motley Fool newsletter services have recommended creating a bull call spread position in Apple. The Motley Fool has a disclosure policy.