LONDON -- European equities are sliding Wednesday after overnight data from Japan showed that the country had a wider-than-expected trade 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. stocks on similar ground to those in Europe, with premarket trade showing the S&P 500 (INDEX: ^GSPC) set to open 0.3% lower.

Even amid this weak performance, there are some European names falling even more. Here are three ADRs the S&P should outperform today.

CRH (NYSE: CRH)
The concrete-product manufacturer is down almost 3.5% today as it continues to see pressure following a raft of downgrades on its stock over the past week. Concerns over the global economy and the potential impact on the industry led Credit Suisse, JPMorgan, Societe Generale, and Exane BNP Paribas to lower their respective outlooks on the stock. Two of the current recommendations from these analysts suggest a "neutral" or "hold" stance, while the other two have an "underperform" rating.

Telefonica (NYSE: TEF)
The Spanish phone company, which operates under the name O2 in the U.K., is down 1.7% today following news that the Everything Everywhere joint venture between rival firms Deutsche Telekom and France Telecom (NYSE: FTE) has gained permission to be the first to operate 4G networks in the U.K. Other companies are not expected to operate this fourth-generation technology -- which should allow for much faster download and upload speeds on mobile devices -- until sometime next year.

BBVA (NYSE: BBVA)
The Spanish bank is weaker today, down 1.6% amid broader moves in the country's financials as a risk-off attitude hits the high-beta sector. The move also comes as a mild consolidation after the company's shares made gains over the past week thanks to Fitch ratings agency removing much of its debt from negative outlook. At the same time, ratings agency Standards and Poor's reduced its rating on the company's "Consumo 3's class A" notes and maintained the rating on the class B paper.

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. If you want to know what Buffett has bought within 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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