Michael Field CFA

Oil giant Shell launches another $3.5 billion share buyback as profit beats expectations Shares of Shell have climbed more than 16% so far this year, outperforming its industry peers.

Despite middling oil prices, oil giants like Shell are muddling through, partly thanks to side-hussles like trading
www.cnbc.com/2025/10/30/s...

Unilever: Modest Volume Growth, but North America Outperformance Continues | Morningstar UK We think Unilever stock is moderately undervalued.

Volumes finally picking up for consumer giant Unilever
global.morningstar.com/en-gb/stocks...

Roche Earnings: We’re Slightly Lowering Our 2025 Sales Forecast but Encouraged by Diverse Pipeline | Morningstar UK We think Roche stock is significantly undervalued.

Mixed results for Roche, but this is a 5 star stock at present
global.morningstar.com/en-gb/stocks...

SAP Earnings: Solid Results With Growing Confidence for 2026; Shares Slightly Undervalued | Morningstar UK We think SAP stock is moderately undervalued.

The market wasn't overly impressed with SAP's Q3 results, but we see plenty of upside in the share price
global.morningstar.com/en-gb/stocks...

Amazon Lays Off 14,000 Corporate Workers ​The cuts are the first ​step in layoffs expected to ​affect as many as 30,000 jobs​, or ​about 10% of the online giant’s white-collar workforce.

Be it the influence of AI or just the drive to "do more with less", the labour market is turning
www.wsj.com/tech/amazon-...

Stock of The Week: Is Diageo Stock a Buy? | Morningstar UK Diageo is in limbo. Does that represent an opportunity for investors?

One of our top picks in the consumer space
global.morningstar.com/en-gb/stocks...

Defense giants Airbus, Thales and Leonardo announce space merger to rival Elon Musk’s Starlink The companies’ CEOs labelled the plans “a pivotal milestone for Europe’s space industry.”

Michael Field, chief equity strategist at Morningstar, told CNBC the move was “another step in the right direction for Europe.”
www.cnbc.com/2025/10/23/a...

Not the easiest time to be involved in the shipping industry, as per DSV's results this morning.......

"Demand is softer, currently the market is a bit more challenging," Chief Financial Officer Michael Ebbe

Heinken's results were very telling of the difficult consumer market out there, prices higher, volumes lower

SAP earnings might look good on this neat graphic, but the market certainly wasn't happy with them. We see decent upside from here though!

Tesla profits drop more than a quarter despite record car sales Elon Musk’s carmaker hit by US tariffs, loss of emissions credit revenue and big investments in AI

The first of the Mag 7 to report earnings and the news wasn't great. Shares down close to 4% after hours
www.ft.com/content/8476...

Cost and chaos continue to test resiliency of U.S. auto industry Auto executives, insiders and analysts told CNBC things aren't as bad as they once feared, and some of the most dire predictions haven't come to pass.

The reality of tariffs is the cost to industries like autos, both in terms of time and money
www.cnbc.com/2025/10/20/t...

Netflix stock falls after earnings miss estimates, operating profit takes a hit Netflix reported third quarter earnings after the bell on Tuesday. Here's what to know.

Big tree fall hard
finance.yahoo.com/news/netflix...

L’Oreal: Purchase of Kering Beauté a Boost to Fragrance Portfolio but Deal Is Pricey We think L'Oreal stock is fairly valued.

It seems this deal is a better one for Kering than L'Oreal
global.morningstar.com/en-gb/stocks...

Best International Companies to Own: 2025 Edition These companies from various corners of the globe are well positioned for the future.

Some high quality European names on this list
global.morningstar.com/en-gb/stocks...

ASOS: Dispute With German Tax Authorities Over Customs Duties We think ASOS stock is significantly undervalued.

Despite it's troubles, we think these shares could more than double!
global.morningstar.com/en-gb/stocks...

Kering: Sale of Beauty Business to L’Oreal Strengthens Balance Sheet; Shares Still Attractive We think Kering stock is moderately undervalued.

We think Kering selling its beauty products division is a positive for the stock
global.morningstar.com/en-gb/stocks...

Pernod Ricard: Soft Start to the Year, but Encouraging Pockets of Growth; Lowering Valuation We think Pernod Ricard stock is significantly undervalued.

Not a great sign for global consumer demand
global.morningstar.com/en-gb/stocks...

7 Newly Overvalued Stocks this Month NatWest and Tesco are among those rated as expensive stocks.

Time to get out of Tesco and NatWest
global.morningstar.com/en-gb/stocks...

14 Newly Undervalued Stocks this Month TotalEnergies and Anheuser-Busch InBev are among the stocks that fell into undervalued territory.

Despite markets generally moving up, there are always new opportunities popping up, including Wide Moat names like Ferrari and ABI
global.morningstar.com/en-gb/stocks...

European Industrials: Legrand and Schneider Are the Biggest Beneficiaries of AI Data Center Demand Our update on select stocks from the Industrials sector.

It's tough to find value in this space, but European industrial firms with exposure to data centre growth still have strong tailwinds behind them
global.morningstar.com/en-gb/stocks...

Bellway Earnings: Investors Welcome New Medium-Term Targets and Buyback Initiation We think Bellway stock is fairly valued.

It might be a "jam-tomorrow" story, but markets are certainly taking UK homebuilder, Bellway's, update positively.
global.morningstar.com/en-gb/stocks...

Stellantis plans $13bn US investment to beat Trump tariffs Jeep owner to create 5,000 jobs in Illinois, Ohio, Michigan and Indiana, sparking fears over Canadian plant

Like the pharma industry, the autos sector is learning that promising investment in US manufacturing is one sure way to appease the administration and avoid punitive tariffs.
www.ft.com/content/2526...

Stellantis: Appoints Global Head of Manufacturing, a Step Toward Improved Execution We think Stellantis stock is moderately undervalued.

With the share price so beaten up, any news is good news for 4* Stellantis
global.morningstar.com/en-gb/stocks...

Tech Stocks Deliver Returns for European Growth Investors in September Netherlands’ tech stock ASML Holding was one of the standout performers last month, rising 30%.

Euro tech rising, but off a low base. Small cap starting to perform also, which could be a good sign for investor confidence.
global.morningstar.com/en-gb/market...

Concentration in the US just keeps growing

Is London Stock Exchange Group a Buy After Share Price Slump? Shares in the owner of the UK’s stock exchange have barely moved in five years, despite a strong run for global markets.

The short answer is YES
global.morningstar.com/en-gb/stocks...

The 10 Best Global Companies to Invest in Now These global high-quality stocks are screening as undervalued.

GSK flying the flag for Europe here
global.morningstar.com/en-gb/stocks...

The Oil Market’s 2026 Tsunami Will Be Costly to Finance The oil market is heading for an immense surplus in early 2026. How large? “Cartoonish,” reckons Macquarie Group Ltd., a bank with a huge commodities business. What’s the solution? Stockpile millions ...

Oil isn't exactly riding high at the monent, a further supply gut next year could sink the sector further.
www.bloomberg.com/opinion/arti...

European Stock Market Outlook: Where Investors Can Find Value in Q4 European equities remain discounted relative to US stocks, creating selective buying opportunities.

Can Europe outperform the US this year?
global.morningstar.com/en-gb/market...