Date updated:11-08-2008
Big European drug and oil companies could benefit from the dollar's recent rally against the euro. But retailers on the Continent who pay for goods in dollars could be harmed.

-
BP
Bp Plc - $49.05
- +0.04%
- $48.89
With oil down sharply since July, big energy producers such as BP (BP) and Royal Dutch Shell (RDSA, RDSB) could be contrarian dollar plays, Draaisma says. "Oil companies have a lot of things you want, like strong balance sheets and high dividend yields, but they also have some cyclical exposure," he notes.

-
RDS.A
Rds.a - $0.00
- N/A
- $N/A
With oil down sharply since July, big energy producers such as BP (BP) and Royal Dutch Shell (RDSA, RDSB) could be contrarian dollar plays, Draaisma says. "Oil companies have a lot of things you want, like strong balance sheets and high dividend yields, but they also have some cyclical exposure," he notes.

-
RDS.B
Rds.b - $0.00
- N/A
- $N/A
With oil down sharply since July, big energy producers such as BP (BP) and Royal Dutch Shell (RDSA, RDSB) could be contrarian dollar plays, Draaisma says. "Oil companies have a lot of things you want, like strong balance sheets and high dividend yields, but they also have some cyclical exposure," he notes.

-
TOT
Total S.a. - $56.28
- -0.51%
- $56.39
France's Total (TOT) is another potential beneficiary of a stronger U.S. currency.

-
XTA.L
Xstrata - $899.50
- +13.43%
- $800.50
On the downside, shares of miners, such as Xstrata (XTA) and Rio Tinto (RTP), have shown the biggest negative correlation to greenback rallies.

-
RTP
Rio Tinto Plc Ads - $117.20
- +15.41%
- $111.10
On the downside, shares of miners, such as Xstrata (XTA) and Rio Tinto (RTP), have shown the biggest negative correlation to greenback rallies.

-
RHHBY
Rhhby - $0.00
- N/A
- $N/A
With pharma shares down only 11% in a year that has seen many stocks crater by 30% or 40% or 50%, the industry's charms aren't exactly undiscovered. Still, Roche Holdings (RHHBY) and Novartis (NVS) remain in the Morgan Stanley European model portfolio, and could continue to outperform, Draaisma says. GlaxoSmithKline (GSK) derives about 45% of sales from the U.S., and also could be helped by a higher buck. Historically, price increases in all three drug stocks have been among the most highly correlated with a rising dollar.

-
NVS
Novartis Ag Ads - $48.20
- -1.59%
- $48.88
With pharma shares down only 11% in a year that has seen many stocks crater by 30% or 40% or 50%, the industry's charms aren't exactly undiscovered. Still, Roche Holdings (RHHBY) and Novartis (NVS) remain in the Morgan Stanley European model portfolio, and could continue to outperform, Draaisma says. GlaxoSmithKline (GSK) derives about 45% of sales from the U.S., and also could be helped by a higher buck. Historically, price increases in all three drug stocks have been among the most highly correlated with a rising dollar.
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A. for index, SPY gets you SandP 500
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stocks. EFA is a fund for Europe, Far
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if you go to ishares.com they have a lot
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id say dont touch treasuries here, go
for corporates. especially if youve got
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A. small trading before thrusday
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