🤖 $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 🏔️
📉 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.
🤖 Deal of the Day: xAI, a California-based AI startup, raised $6B Series B for product launch and future tech research.
What's New?
✈️ Airports. Airport index up 6%
💰 Funding. Patient care, swarm detection, vaccines + more
💼 M&A. Hg acquires AuditBoard
📅 Economics. US GDP, Euro area inflation, balance of trade + more
✈️ Airport Index Up 6%
HolonIQ’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 €261M ($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.
💰 Funding
🤖 xAI, a California-based AI startup, raised $6B Series B from Andreessen Horowitz and Sequoia Capital for product launch and future tech research.
🏥 Resilience, a French remote patient care company, raised $25M from Picus Capital and Red River West to expand its solutions.
🎗️ OncoveryCare, a Massachusetts-based virtual survivorship clinic, raised a $4.5M Seed from .406 Ventures to grow its care delivery model.
🛡️ Unmanned Defense Systems, a Lithuanian swarm detection company, raised a $3.5M Seed to advance AI-based swarm tech.
💉 Mynvax, an Indian biotech startup, raised a $2.6M Series A from Inviga Healthcare Fund to expand operations.
💡 TadHealth, a California-based mental health care solution, raised a $1.6M Seed from Halycon Venture Partners to transform mental health services in education.
💼 M&A
📊 Hg, a UK-based private equity firm, signed a definitive agreement to acquire AuditBoard for $3B, a California-based risk management platform.
📅 Economic Calendar
US GDP, Euro Area Inflation, Balance of Trade + More
Monday, May 27th 2024
🇩🇪 Germany Ifo Business Climate Index, May
Wednesday, May 29th 2024
🇯🇵 Japan Consumer Confidence Index, May
🇩🇪 Germany GfK Consumer Confidence, June
🇩🇪 Germany Inflation Data Preliminary, May
Thursday, May 30th 2024
🇺🇸 US GDP Growth Data, Q1
🇨🇳 China NBS Manufacturing PMI, May
Friday, May 31st 2024
🇫🇷 France Inflation Data Preliminary, May
🇪🇦 Euro Area Inflation Data (Flash), May
🇮🇹 Italy Inflation Data Preliminary, May
🇮🇳 India GDP Growth Data, Q1
🇨🇦 Canada GDP Growth Data, Q1
🇺🇸 US Core PCE Price Index, April
🇺🇸 US Personal Income & Spending, April
Monday, June 3rd 2024
🇺🇸 US ISM Manufacturing PMI, May
Tuesday, June 4th 2024
🇺🇸 US JOLTs Job Openings, April
🇦🇺 Australia GDP Growth Data, Q1
Wednesday, June 5th 2024
🇨🇦 Canada BoC Interest Rate Decision
🇺🇸 US ISM Services PMI, May
🇦🇺 Australia Balance of Trade Data, April
Thursday, June 6th 2024
🇪🇦 Euro Area Deposit Facility Data
🇪🇦 Euro Area ECB Interest Rate Decision
🇪🇦 Euro Area ECB Press Conference
🇨🇦 Canada Ivey PMI s.a, May
🇨🇳 China Balance of Trade Data, May
Friday, June 7th 2024
🇩🇪 Germany Balance of Trade Data, April
🇨🇦 Canada Balance of Trade Data, April
🇨🇦 Canada Employment Data, May
🇺🇸 US Employment Data, May
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