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BUZZ-European stocks: ways to play a rebounding euro

Reuters - UK Focus

** Surging euro set to hurt eurozone exporters but a boon to UK cos selling into the continent

** Biggest move against sterling for the euro since 2009

** Easyjet (Other OTC: EJTTF - news) and IAG relative outperfomers in the UK on Monday - both derive > 50 pct revenues from Europe

** Other UK companies with significant eurozone exposure: Rentokil, RPC (NYSE: RES - news) , DS Smith (Other OTC: DITHF - news) , Kingfisher (Amsterdam: KF6.AS - news) , Aviva (Other OTC: AIVAF - news) , Vodafone, TUI (LSE: TUI.L - news) , LSE , Segro (Other OTC: SEGXF - news) , Britvic (Stuttgart: B6S.SG - news) , National Express (LSE: NEX.L - news)

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** At index level, long Italy v short Germany trade continuing breakout. Chart: http://link.reuters.com/kuv44w

** Basket of domestically-focussed sectors (Stoxx 600 Banks , Construction, Utilities and Telecoms ) likely to outperform against exporters (Autos, Chemicals, Healthcare, Personal (LSE: PGH.L - news) and Household Goods ).

** Euro continues its recovery as European stocks are routed on Monday, breaking 1.17 against the dollar, a 6.3 pct rise in 4 days and a 7 month high

** Euro could rise as high as 1.22

** Move likely to be negative for eurozone companies with the majority of their revenues outside the currency bloc (names include: ASML, STMicro, Luxottica (Milan: LUX.MI - news) , LVMH, L'Oreal, Pernod Ricard (Paris: FR0000120693 - news) , ArcelorMittal (Other OTC: AMSYF - news) , Daimler (Xetra: 710000 - news) , Airbus, Ahold, BMW (Swiss: BMW.SW - news) , CRH ) (RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)