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Euro's slide pays off for many European firms

Weaker currency gives companies like Bayer, L'Oreal and Sanofi "a competitive edge"; there is optimism that currency move is fuelling an economic recovery
Monday, May 4, 2015 - 05:50
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Bayer raised its 2015 sales and profit forecasts on Thursday because of the euro's drop; if exchange rates as of March 31 persist throughout the year, L'Oreal would get a 9.3% boost in sales, it said on April 20.
BT_20150504_CPSANOFI43TNO_1649641.jpg
Bayer raised its 2015 sales and profit forecasts on Thursday because of the euro's drop; if exchange rates as of March 31 persist throughout the year, L'Oreal would get a 9.3% boost in sales, it said on April 20.

Paris

THE euro's slide against the US dollar is paying off for companies from German drug and chemical maker Bayer AG to French cosmetics giant L'Oreal SA, adding to optimism that the currency move is fuelling an economic recovery.

Bayer raised its 2015 sales and profit forecasts