3 Stocks Set to Beat the S&P Today
LONDON -- Equity markets are managing to trade higher for the most part in Europe Friday, ending the week on a mildly positive note as some confidence returns regarding the EU's commitment to bailing out failing countries. A report in the Financial Times suggested that European policymakers may be set to announce the terms of the Spanish bailout as early as next week. An Italian government official, meanwhile, has said that Italy and Spain will not seek a bailout, forcing themselves to adhere to the rules set on the aid, unless bond yields surge and leave them "shut out" of the market.
U.S. futures trading has Wall Street making similar, if somewhat more subdued, gains as European benchmarks, with the S&P 500 (INDEX: ^GSPC) set to open 0.2% higher.
Even with these gains, some individual names are outperforming. Here are three American depositary receipts that are set to beat the S&P today.
Grifols (NAS: GRFS)
The Spanish medical supply and plasma derivative maker is once again making good headway today, up almost 4% as news that it will expand its North American business continues to offer support. Earlier this week the company said it will acquire three plasma donation centers in the U.S. from Cangene through its subsidiary Biomat USA.
Elan (NYS: ELN)
The Irish speciality pharmaceutical company is up almost 3% today after it announced the appointment of a new chief operating officer. The company said that Hans Peter Hasler, currently a nonexecutive director of the company, will become COO effective Oct. 1. Currently the chairman of HBM Bioventures, Hasler was appointed a director of Elan in September 2011 and will retire from that position upon becoming COO.
National Bank of Greece (NYS: NBG)
The broader wave of optimism and returning confidence in a European bailout is helping support many high-beta assets today, with Greece's national bank up 3.8% on the move. Last week the country announced that it would appoint Greece's Hellenic Republic Asset Development Fund to lease out 40 uninhabited islands for 50 years by 2020 in hopes of raising some 50 billion euros to help meet conditions tied to the 240 billion euros in foreign aid.
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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Karl Loomes does not own any share mentioned in this article.
The article 3 Stocks Set to Beat the S&P Today originally appeared on Fool.com.Karl Loomes has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Motley Fool newsletter services recommend Elan. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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