BUZZ-The good news for equities from an oil price slump

** While much of the sentiment around the slide in oil prices has been negative, indirect benefits for certain stocks may have been underestimated, say strategists at JPMorgan (LSE: JPIU.L - news) .

** Basket of twelve stocks tipped by bank (see Related) has moved sharply higher since oil broke through $80/bl last month. Chart: http://link.reuters.com/syk43w

** "Cyclicals and the overall market have started to decouple from oil prices in the last few weeks," said JPM strategist Emmanuel Cau.

** Falling oil price equates to a tax cut for many sectors, with travel, transport, auto and retail stocks set to benefit the most.

** Within European equities, Germany likely to benefit the most as transportation, logistics and autos dominate blue-chip indices vs the energy-heavy UK benchmarks.

** Key driver of lower prices is spike in supply, not lack of demand, a bearish indicator seen in 2001 and 2008.

** Separately, bank cuts crude prediction by $33 to $82/bl for 2015. (RM (LSE: RM.L - news) : alasdair.pal.thomsonreuters.com@reuters.net)