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๐ŸŽญ 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 ๐Ÿฆ“

๐Ÿ“‰ 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%.

๐ŸŒฟ Deal of the Day: Emirates Flight Catering acquired Bustanica, Dubai's largest indoor vertical farm.

What's New?

  • ๐ŸŽญ Brazil. HolonIQ's Brazil Stock index rises 31%
  • ๐Ÿ’ฐ Funding. Deals in gene therapy, E-mobility, VR surgical + more
  • ๐Ÿ’ผ M&A. Emirates flight catering acquires Bustanica
  • ๐Ÿ“… Economics. Major inflation data, balance of trade, US GDP growth data + more

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๐ŸŽญ HolonIQ's Brazil Stock Index Rises 31%

HolonIQโ€™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.

๐Ÿ’ฐ Funding

๐Ÿ”ฌ 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.

๐Ÿš— 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.

๐Ÿฉบ Avatar Medical, a French VR surgical preparation solutions provider, raised a $5.3M Seed from Go Capital to democratize access to medical images.

๐Ÿ”Œ 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.

๐Ÿ‘๏ธโ€๐Ÿ—จ๏ธ 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.

๐Ÿงฌ 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.

๐Ÿ’ผ M&A

๐ŸŒฟ 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.

๐Ÿ“… Economic Calendar

Major Inflation Data, Balance of Trade, US GDP Growth Data + More

Tuesday, February 20th 2024

๐Ÿ‡ฆ๐Ÿ‡บ Australia RBA Meeting Minutes
๐Ÿ‡จ๐Ÿ‡ฆ Canada Inflation Data, January

Wednesday, February 21st 2024

๐Ÿ‡ฏ๐Ÿ‡ต Japan Balance of Trade, January

Thursday, February 22nd 2024

๐Ÿ‡บ๐Ÿ‡ธ US FOMC Minutes
๐Ÿ‡ฉ๐Ÿ‡ช Germany HCOB Manufacturing PMI (Preliminary), February

Friday, February 23rd 2024

๐Ÿ‡ฉ๐Ÿ‡ช Germany Ifo Business Climate, February

Tuesday, February 27th 2024

๐Ÿ‡ฏ๐Ÿ‡ต Japan Inflation Data, January
๐Ÿ‡ฉ๐Ÿ‡ช Germany GfK Consumer Confidence, March
๐Ÿ‡บ๐Ÿ‡ธ US Durable Goods Orders Data, January

Wednesday, February 28th 2024

๐Ÿ‡บ๐Ÿ‡ธ US GDP Growth Data, Q4

Thursday, February 29th 2024

๐Ÿ‡ซ๐Ÿ‡ท France Inflation Data (Preliminary), February
๐Ÿ‡ฎ๐Ÿ‡ณ India GDP Data, Q4
๐Ÿ‡ฉ๐Ÿ‡ช Germany Inflation Data (Preliminary), February
๐Ÿ‡จ๐Ÿ‡ฆ Canada GDP Data, Q4
๐Ÿ‡บ๐Ÿ‡ธ US Core PCE Price Index Data, January
๐Ÿ‡บ๐Ÿ‡ธ US Personal Income & Spending Data, January

Friday, March 01st 2024

๐Ÿ‡จ๐Ÿ‡ณ China NBS & Caixin Manufacturing PMI (Preliminary), February
๐Ÿ‡ฏ๐Ÿ‡ต Japan Consumer Confidence, February
๐Ÿ‡ช๐Ÿ‡ฆ Euro Area Inflation Data (Flash), February
๐Ÿ‡ฎ๐Ÿ‡น Italy GDP Data, 2024
๐Ÿ‡ฎ๐Ÿ‡น Italy Inflation Data (Preliminary), February
๐Ÿ‡ฎ๐Ÿ‡น Italy Government Budget, 2023
๐Ÿ‡บ๐Ÿ‡ธ US ISM Manufacturing PMI (Preliminary), February

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