💰 $580M+ VC Funding Day. Aviation Index Ends Flat.
Impact Capital Markets #68 looks at our Aviation stock index, major impact deals, M&A, and upcoming economic releases.
Privet ❄️
📉 Today's Global Economic Update: Japan's Consumer Confidence data revealed an increase to 39.5 in March 2024, its highest level since April 2019. Sentiments improved on income growth, employment, and durable goods purchases, but overall livelihood sentiment remained steady at 37.6.
💊 Deal of the Day: Seaport Therapeutics, a clinical-stage biopharmaceutical company, raised a $100M Series A to advance Seaport's pipeline of neuropsychiatric medicines.
What's New?
🛫 Aviation. Aviation index ends flat
💰 Funding. Cybersecurity, biopharmaceuticals, agricultural technology + more
💼 M&A. Pharmaceuticals & talent assessments
📅 Economics. UK GDP Data, inflation, balance of trade + more
🛫 Aviation Index Ends Flat
The aviation index has experienced some volatility over the past three months but ended flat. While global air travel has returned to pre-pandemic levels, recent accidents and technical issues in Boeing aircraft have plagued most airlines, causing flights to be canceled. Investor confidence amidst the rising frequency of mechanical failures has dwindled, resulting in less-than-ideal stock performances. Singapore Airlines ($14B MCap) and SouthWest Airlines ($17B MCap) saw flat performance over the quarter.
Delta Airlines ($30B MCap) was a notable exception, with 12% growth over the last quarter. The airline postponed its deliveries of Boeing 737 Max 10 aircraft, but its diverse fleet, including Airbus, Bombardier, and Embraer, likely mitigated the impact.
Fuel costs have also been on the rise for airlines, affecting their profitability ratios. This is made worse by the increased adoption of costlier sustainable aviation fuels as airlines attempt to find greener alternatives. However, global air travel volume is expected to exceed pre-Covid levels in 2024 as the Asia-Pacific region makes a full recovery. Driven by sustained demand, this could make 2024 a good year for airline profits.
💰 Funding
🛡️ Cyera, a New York-based data security company, raised a $300M Series C from Coatue to expand its business reach.
💊 Seaport Therapeutics, a Massachusetts-based clinical-stage biopharmaceutical company, raised a $100M Series A from Sofinnova Investments & ARCH Venture Partners. The funding will be used to advance Seaport's pipeline of neuropsychiatric medicines.
💉 Arnatar Therapeutics, a California-based biopharmaceutical company, raised a $50M Series A from 3E Bioventures to accelerate the development of its drug pipeline and clinical trials.
🔬 Reshape Biotech, a Danish lab tech startup developing automation robots, raised a $20M Series A from Astanor Ventures to facilitate its expansion in the US and attract talent.
🌱 Weenat, a French agritech startup providing agricultural professionals with meteorological sensors, raised a $8M Series C to expand operations across Europe.
🐟 Peptobiotics, a Singaporean startup that provides synthetic biology alternatives to antibiotics, raised a $6.2M Series A from Hatch Blue Ltd. to increase commercial volumes of its products.
💼 M&A
💊 Essential Pharma Group, a UK-based pharma company, acquired Renaissance Pharma, a clinical-stage pharmaceutical company in the UK.
🎓 Multiverse, a UK-based tech startup matching individuals to apprenticeship programs, acquired Searchlight, a California-based talent intelligence & skills assessment platform.
📅 Economic Calendar
UK GDP Data, Inflation, Balance of Trade + More
Wednesday, April 10th 2024
🇯🇵 Japan Consumer Confidence Index, March
🇺🇸 US Core Inflation Data, March
🇺🇸 US Inflation Data, March
🇨🇦 Canada BoC Interest Decision
Thursday, April 11th 2024
🇨🇳 China Inflation Data, March
🇪🇦 Euro Area ECB Interest Rate Decision
🇺🇸 US Producer Price Index, March
Friday, April 12th 2024
🇬🇧 UK GDP Data, February
🇺🇸 US Michigan Consumer Sentiment Index (Preliminary), April
Monday, April 15th 2024
🇺🇸 US Retail Sales Data, March
Tuesday, April 16th 2024
🇨🇳 China GDP Growth Data, Q1
🇨🇳 China Industrial Production Data, March
🇨🇳 China Retail Sales Data, March
🇬🇧 UK Employment Data, February
🇩🇪 Germany ZEW Economic Sentiment Index, April
🇨🇦 Canada Inflation Data, March
🇺🇸 US Building Permits (Preliminary), March
Wednesday, April 17th 2024
🇯🇵 Japan Balance of Trade Data, March
🇬🇧 UK Inflation Data, March
Friday, April 19th 2024
🇬🇧 UK Retail Sales Data, March
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