3 Stocks Set to Beat the S&P Today
LONDON -- European stocks are trading slightly higher for the most part Thursday, bolstered after minutes from the latest Federal Open Market Committee meeting suggested the central bank will begin new stimulus measures soon if the economic picture does not begin to improve. This optimism has been tempered somewhat, however, by concerns that any new quantitative easing may have only mild success at best in stimulating the immediate economy. Early pre-market trade has U.S. stocks seeing gains similar to those in Europe, with the S&P 500 (INDEX: ^GSPC) set to open 0.3% higher.
Even with these gains, there are some individual names that are experiencing an even greater performance. Here are three ADRs that are set to beat the S&P today.
Randgold Resources (NAS: GOLD)
Randgold is up 4% in London today, boosted by hopes that central banks will be easing monetary policy and making efforts to further stimulate the economy. This sees a twofold benefit for Randgold; in addition to the improvement in the broader economy, any inflation concerns eventually arising from the central bank's moves will most likely see gold prices rise, in turn helping to improve Randgold's profits.
Nokia (NYS: NOK)
Nokia is building on yesterday's gains and climbing over 3.6%, still gaining support after news that Verizon Wireless will be selling the company's latest handset, which will be using the Windows 8 operating system, when it is released in early September. The move will be significant for Nokia in establishing greater presence in the smartphone market and establishing a beachhead with the No. 1 U.S. wireless provider, while helping Verizon lessen its dependence on Apple's (NYS: AAPL) iPhone and Google's Android phones.
Deutsche Bank (NYS: DB)
The German bank is also seeing another session of gains Thursday, helped by the speculation that central banks will begin to implement further stimulus measures. DB gained added traction after a news report in Berlin yesterday said a government official confirmed the bank would have no difficulty fulfilling the extra capital requirements imposed on it by global regulators. Deutsche Bank has been trading around 2% higher.
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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The article 3 Stocks Set to Beat the S&P Today originally appeared on Fool.com.Karl Loomes does not own any share mentioned in this article.The Motley Fool owns shares of Google. Motley Fool newsletter services have recommended buying shares of Google. 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.
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