🛡️ Defense Stock Index Up 32%. $45M+ VC Funding.
Impact Capital Markets #56 looks at our Defense stock index, major impact deals, M&A, and upcoming economic releases.
📉 Today's Global Economic Update: Japan's annual inflation rate increased to 2.8% in February 2024, ending three months of consecutive decline. The increase comes as energy subsidies introduced in February 2023 begin to lose effect.
🌐 Deal of the Day: Espresso Systems, a startup providing systems for Web 3 applications, raised a $23M Series B to develop its product.
What's New?
- 🛡️ Defense. Defense stock index up 32%
- 💰 Funding. Blockchain security & cloud-based software
- 💼 M&A. Medsystems acquires Aeskins
- 📅 Economics. Inflation, US GDP, personal income & spending + more
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🛡️ Defense Stock Index Up 32%
HolonIQ's Defense Index has increased by 32% over the past year amid increased global military spending and geopolitical tensions. Countries worldwide are bolstering their defense budgets, which has led to higher revenue for companies in the sector. Despite economic fluctuations, defense stocks have remained profitable, driven by steady demand for military aerospace products, naval and submarine construction, advanced land vehicles, and weapons manufacturing. Airbus SE ($146B MCap) has increased by 43% over the past year, with General Dynamics Corp. ($77B MCap) rising by 25% and L3Harris Technologies ($40B MCap) by 9%. With opportunities for localization, export growth, and sustained demand fueled by continued government investments in defense capabilities, companies in the sector are likely to see sustained demand.
💰 Funding
🌐 Espresso Systems, a California-based startup providing scaling and privacy systems for Web 3 applications, raised a $28M Series B from Andreessen Horowitz for product development.
☁️ Ediphi, a Massachusetts-based cloud-based platform providing cost estimating solutions, raised a $12M Series A from Norwest Venture Partners to expand its team and invest in R&D.
🪙 Rails, a Toronto-based crypto exchange, raised a $6.2M seed to scale operations.
💼 M&A
🧴 Medsystems, a Brazilian dermatological equipment manufacturer, acquired Aeskins, a Spanish biotech skincare solutions provider.
📅 Economic Calendar
Inflation, US GDP, Personal Income & Spending + More
Tuesday, March 26th 2024
🇦🇺 Australia Westpac Consumer Sentiment Index, March
🇩🇪 Germany GfK Consumer Confidence Index, April
🇺🇸 US Durable Goods Orders Data, February
Thursday, March 28th 2024
🇺🇸 US Core PCE Price Index Data, February
🇺🇸 US GDP Growth Data, Q4
Friday, March 29th 2024
🇫🇷 France Inflation Data (Preliminary), March
🇮🇹 Italy Inflation Data (Preliminary), March
🇺🇸 US Personal Income & Spending Data, February
Monday, April 1st 2024
🇯🇵 Japan Tankan Large Manufacturers Index, Q1
🇨🇳 China Caixin Manufacturing PMI, March
🇺🇸 US ISM Manufacturing PMI, March
Tuesday, April 2nd 2024
🇦🇺 Australia RBA Meeting Minutes
🇩🇪 Germany Inflation Data (Preliminary), March
🇺🇸 US JOLTs Job Openings, February
Wednesday, April 3rd 2024
🇪🇦 Euro Area Inflation Data, March
🇺🇸 US ISM Services PMI, March
Friday, April 5th 2024
🇦🇺 Australia Balance of Trade Data, February
🇨🇦 Canada Balance of Trade Data, February
🇨🇦 Canada Employment Data, March
🇺🇸 US Employment Data, March
🇨🇦 Canada Ivey PMI, March
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