BUZZ-European stocks: ways to play a rebounding euro

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

** Biggest move against sterling for the euro since 2009

** Easyjet and IAG relative outperfomers inthe UK on Monday - both derive > 50 pct revenues from Europe

** Other UK companies with significant eurozone exposure:Rentokil, RPC, DS Smith, Kingfisher, Aviva, Vodafone, TUI, LSE, Segro, Britvic, National Express

** At index level, long Italy v short Germany tradecontinuing 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 and HouseholdGoods ).

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

** Euro could rise as high as 1.22

** Move likely to be negative for eurozone companies withthe majority of their revenues outside the currency bloc (namesinclude: ASML, STMicro, Luxottica,LVMH, L'Oreal, Pernod Ricard,ArcelorMittal, Daimler, Airbus,Ahold, BMW, CRH ) (RM: alasdair.pal.thomsonreuters.com@reuters.net)