LONDON -- European equity markets are seeing little change Monday, starting the week on a dull note as the U.K. bank holiday sees light trading. Fundamental news is also thin on the ground today, with company-based headlines bringing about most of the moves in the markets. Futures trading shows the U.S. markets set for a slightly more buoyant session today, with early premarket trade pegging the S&P 500
As always, however, there are some individual names outperforming. Here are three American depositary receipts that are set to beat the S&P today.
The Finnish phone maker is up 11% today, boosted after a U.S. jury ruled that rival company Samsung had breached some patents held by Apple
The German major is up more than 3.3% today on news it had changed the rules surrounding employee bonuses to allow the company to claw back stock awarded to workers by former employers. According to a spokesman for the company, the rules affect unvested stock converted to Deutsche Bank shares and will apply to senior bankers who started in or after January. This came days after the bank's structured-products arm was sued by the Federal Housing Finance Agency, which claimed Deutsche Bank had failed to repurchase loans that had been pooled and securitized as required.
Arcelor is up almost 1% today as its shares continue to benefit from a deal last week that saw an agreed extension for Kumba Iron Ore to supply the company's South African unit at below-market prices until the end of the year. Kumba, producing iron ore from its Sishen mine, will supply up to 1.5 million tonnes to ArcelorMittal South Africa at $70 per tonne until Dec. 31 as the two companies continue to try and resolve a dispute over pricing.
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, but hurry -- the report is available for a limited time only.
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