🎭 Brazil Stock Index Rises 31%. $45M VC Funding.
Impact Capital Markets #32 looks at our Brazil stock index, major impact deals, M&A, and upcoming economic releases.
Hujambo 🦓
📉 Today's Global Economic Update: The US Michigan Consumer Sentiment Index surged to 79.6, its highest since July 2021, signaling renewed optimism in labor markets and confidence in inflation moderation. Alongside this, consumer's inflation expectations for the year ahead climbed marginally to 3% from 2.9%.
🌿 Deal of the Day: Emirates Flight Catering acquired Bustanica, Dubai's largest indoor vertical farm.
What's New?
- 🎭 Brazil. HolonIQ's Brazil Stock index rises 31%
- 💰 Funding. Deals in gene therapy, E-mobility, VR surgical + more
- 💼 M&A. Emirates flight catering acquires Bustanica
- 📅 Economics. Major inflation data, balance of trade, US GDP growth data + more
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🎭 HolonIQ's Brazil Stock Index Rises 31%
HolonIQ’s Brazil stock index rose 31% over the past year, with the macroeconomic environment indicating strong prospects for the index. Key stocks in the index saw notable growth, including Petrobras (MCap: US$ 115B) 57% YoY, Itau Unibanco (MCap: US$ 63B) 39% YoY, and Centrais Electricas (MCap: US$ 20B) 40% YoY.
The significant increase in inflation seen in 2022 prompted the Central Bank of Brazil to implement interest rate hikes ahead of most other global central banks. This contributed to a faster moderation of inflation relative to other economies, generating positive momentum for the stock market. A notable exception to this trend was the metal and mining company Vale SA (MCap: US$ 62B), which saw a 20% decline YoY. The company saw its profits decline in the first three quarters of 2023, affected by low iron ore prices and weak sales. As lower rates set in, a shift in capital allocation towards equities is likely, sustaining the upward momentum in Brazil's stock market. Looser monetary policy globally is also expected to impact the index positively.
💰 Funding
🔬 MIP Discovery, a UK-based developer of non-biological affinity reagents for cell and gene therapies, raised a $8.8M Series A from Mercia Ventures to drive further commercialization of its novel synthetic affinity reagents within the cell and gene therapy space.
🚗 Pure EV, an Indian motor vehicle company that develops e-mobility and energy storage systems for the EV industry, raised $8M to scale up its EV two-wheeler playbook.
🩺 Avatar Medical, a French VR surgical preparation solutions provider, raised a $5.3M Seed from Go Capital to democratize access to medical images.
🔌 Evios, a UK-based home electric vehicle charging station manufacturer, raised a $5M Series A. The funding will expand operations and grow Andersen EV, a subsidiary of Evios that provides at-home EV charging installations.
👁️🗨️ WIVI Vision, a Spain-based company offering solutions to improve visual efficiency and treat visual dysfunctions, raised a $4.3 Series A from Adara Ventures to boost its domestic and international growth.
🧬 GlycanAge, a UK-based biotech startup pioneering the field of glycan biomarkers, raised a $4.2M Seed from LAUNCHub Ventures & Kadmos Capital to revolutionize personalized preventative care.
💼 M&A
🌿 Emirates Flight Catering, a UAE-based inflight catering company, acquired Bustanica, Duabai's largest indoor vertical farm, located close to Al Maktoum International Airport (DWC) at Dubai World Central.
📅 Economic Calendar
Major Inflation Data, Balance of Trade, US GDP Growth Data + More
Tuesday, February 20th 2024
🇦🇺 Australia RBA Meeting Minutes
🇨🇦 Canada Inflation Data, January
Wednesday, February 21st 2024
🇯🇵 Japan Balance of Trade, January
Thursday, February 22nd 2024
🇺🇸 US FOMC Minutes
🇩🇪 Germany HCOB Manufacturing PMI (Preliminary), February
Friday, February 23rd 2024
🇩🇪 Germany Ifo Business Climate, February
Tuesday, February 27th 2024
🇯🇵 Japan Inflation Data, January
🇩🇪 Germany GfK Consumer Confidence, March
🇺🇸 US Durable Goods Orders Data, January
Wednesday, February 28th 2024
Thursday, February 29th 2024
🇫🇷 France Inflation Data (Preliminary), February
🇮🇳 India GDP Data, Q4
🇩🇪 Germany Inflation Data (Preliminary), February
🇨🇦 Canada GDP Data, Q4
🇺🇸 US Core PCE Price Index Data, January
🇺🇸 US Personal Income & Spending Data, January
Friday, March 01st 2024
🇨🇳 China NBS & Caixin Manufacturing PMI (Preliminary), February
🇯🇵 Japan Consumer Confidence, February
🇪🇦 Euro Area Inflation Data (Flash), February
🇮🇹 Italy GDP Data, 2024
🇮🇹 Italy Inflation Data (Preliminary), February
🇮🇹 Italy Government Budget, 2023
🇺🇸 US ISM Manufacturing PMI (Preliminary), February
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