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๐Ÿค– $6B AI Funding. Airport Index Up 6%.

Impact Capital Markets #101 looks at our Airports Stock Index, major impact deals, M&A, and upcoming economic releases.

Salem ๐Ÿ”๏ธ

๐Ÿ“‰ Today's Global Economic Update: UK retail sales declined 2.3% month-over-month in April 2024, the biggest decrease in four months, with significant drops in non-food stores and automotive fuel sales. This sharp decline highlights the impact of poor weather and low footfall on consumer spending, raising concerns about the overall economic outlook.

๐Ÿค– Deal of the Day: xAI, a California-based AI startup, raised $6B Series B for product launch and future tech research.

What's New?

โœˆ๏ธ Airports. Airport index up 6%
๐Ÿ’ฐ Funding. Patient care, swarm detection, vaccines + more
๐Ÿ’ผ M&A. Hg acquires AuditBoard
๐Ÿ“… Economics. US GDP, Euro area inflation, balance of trade + more

โœˆ๏ธ Airport Index Up 6%

HolonIQโ€™s Airport Index has rebounded from lows in November 2023 to end at 6% YoY. Despite some volatility, the index has predominantly maintained a positive trajectory for most of 2024. Passenger traffic has been on the increase, hitting record levels in some countries, however, some stocks in the index have seen YoY declines, limiting the upward movement in the index. Airports of Thailand PLC ($25B MCap) have declined 12% over the past year, despite Thai aviation posting record profits in 2023. Aeroports de Paris ($13.5 BCap) has also decreased by 11%, despite an 8.2% annual increase in group traffic with 28.4M passengers in April 2024. Spanish airport operator Aena's ($29B MCap) stock price increased by 22%, as its first-quarter net profit nearly doubled to โ‚ฌ261M ($279M). Passenger traffic to and from Spain surpassed annual record levels.

Overall, net profits, revenue, and the number of expected travelers are expected to continue to grow in 2024, as a result of pent-up demand, creating a favorable outlook for the airports index.

๐Ÿ’ฐ Funding

๐Ÿค– xAI, a California-based AI startup, raised $6B Series B from Andreessen Horowitz and Sequoia Capital for product launch and future tech research.

๐Ÿฅ Resilience, a French remote patient care company, raised $25M from Picus Capital and Red River West to expand its solutions.

๐ŸŽ—๏ธ OncoveryCare, a Massachusetts-based virtual survivorship clinic, raised a $4.5M Seed from .406 Ventures to grow its care delivery model.

๐Ÿ›ก๏ธ Unmanned Defense Systems, a Lithuanian swarm detection company, raised a $3.5M Seed to advance AI-based swarm tech.

๐Ÿ’‰ Mynvax, an Indian biotech startup, raised a $2.6M Series A from Inviga Healthcare Fund to expand operations.

๐Ÿ’ก TadHealth, a California-based mental health care solution, raised a $1.6M Seed from Halycon Venture Partners to transform mental health services in education.

๐Ÿ’ผ M&A

๐Ÿ“Š Hg, a UK-based private equity firm, signed a definitive agreement to acquire AuditBoard for $3B, a California-based risk management platform.

๐Ÿ“… Economic Calendar

US GDP, Euro Area Inflation, Balance of Trade + More

Monday, May 27th 2024

๐Ÿ‡ฉ๐Ÿ‡ช Germany Ifo Business Climate Index, May

Wednesday, May 29th 2024

๐Ÿ‡ฏ๐Ÿ‡ต Japan Consumer Confidence Index, May
๐Ÿ‡ฉ๐Ÿ‡ช Germany GfK Consumer Confidence, June
๐Ÿ‡ฉ๐Ÿ‡ช Germany Inflation Data Preliminary, May

Thursday, May 30th 2024

๐Ÿ‡บ๐Ÿ‡ธ US GDP Growth Data, Q1
๐Ÿ‡จ๐Ÿ‡ณ China NBS Manufacturing PMI, May

Friday, May 31st 2024

๐Ÿ‡ซ๐Ÿ‡ท France Inflation Data Preliminary, May
๐Ÿ‡ช๐Ÿ‡ฆ Euro Area Inflation Data (Flash), May
๐Ÿ‡ฎ๐Ÿ‡น Italy Inflation Data Preliminary, May
๐Ÿ‡ฎ๐Ÿ‡ณ India GDP Growth Data, Q1
๐Ÿ‡จ๐Ÿ‡ฆ Canada GDP Growth Data, Q1
๐Ÿ‡บ๐Ÿ‡ธ US Core PCE Price Index, April
๐Ÿ‡บ๐Ÿ‡ธ US Personal Income & Spending, April

Monday, June 3rd 2024

๐Ÿ‡บ๐Ÿ‡ธ US ISM Manufacturing PMI, May

Tuesday, June 4th 2024

๐Ÿ‡บ๐Ÿ‡ธ US JOLTs Job Openings, April
๐Ÿ‡ฆ๐Ÿ‡บ Australia GDP Growth Data, Q1

Wednesday, June 5th 2024

๐Ÿ‡จ๐Ÿ‡ฆ Canada BoC Interest Rate Decision
๐Ÿ‡บ๐Ÿ‡ธ US ISM Services PMI, May
๐Ÿ‡ฆ๐Ÿ‡บ Australia Balance of Trade Data, April

Thursday, June 6th 2024

๐Ÿ‡ช๐Ÿ‡ฆ Euro Area Deposit Facility Data
๐Ÿ‡ช๐Ÿ‡ฆ Euro Area ECB Interest Rate Decision
๐Ÿ‡ช๐Ÿ‡ฆ Euro Area ECB Press Conference
๐Ÿ‡จ๐Ÿ‡ฆ Canada Ivey PMI s.a, May
๐Ÿ‡จ๐Ÿ‡ณ China Balance of Trade Data, May

Friday, June 7th 2024

๐Ÿ‡ฉ๐Ÿ‡ช Germany Balance of Trade Data, April
๐Ÿ‡จ๐Ÿ‡ฆ Canada Balance of Trade Data, April
๐Ÿ‡จ๐Ÿ‡ฆ Canada Employment Data, May
๐Ÿ‡บ๐Ÿ‡ธ US Employment Data, May

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