Mark Hake Thinks Present BP Stock Price Reflects Damage Caused By Oil Spill

In an article on CNBC, analysts Mark Hake, the president of Hake Investment Research and Kevin Mahn, the chief investment officer of Hennion & Walsh, have advised investors on how to derive benefits from the weakening euro resulting by the European debt crisis. According to Hake, investors should put their money in a ‘beleaguered British company.’ "I'm also very interested in British Petroleum. I think a lot of the damage that's going to happen to the company in terms of cash flow after insurance is pretty much priced in to the stock at this point," he said. BP is trading at $48.78, up 0.08% in the pre-market session. Hake also recommended Telefonica SA TEF, Total SA TOT and Credit Suisse CS. In the pre-market session TEF was up 1.19% to $61.26, TOT was down 0.36% to $50.35 and CS was up 0.13% to $42.91. On the other hand, Kevin advised buying exchange-traded funds (ETFs) and trading in shorts. Among the ETFs, he recommended Market Vectors Double Short Euro DRR, Barclays iPath Euro/USD ERO AND iShares MSCI EMU Index EZU. DRR gained 0.04% to $52.55 in the pre-market session, while ERO and EZU closed at $49.53 and $32, respectively, yesterday. For shorts, Kevin named CurrencyShares Euro Trust FXE, Barclay's iPath Euro/USD ERO and WisdomTree Dreyfus Euro EU. While FXE lost 0.02% to $126.42 during the pre-market trading, EU closed at $20.45 yesterday. Read more from Benzinga's Company news.