🌮 Mexico Stock Index Down 4%. $1B+ VC Funding Day.
Impact Capital Markets #113 looks at our Mexico Stock Index, major impact deals, M&A, and upcoming economic releases.
Hola 🏰
📉 Today's Global Economic Update: China's annual inflation rate remained steady at 0.3% in May 2024, falling short of market expectations. Non-food prices continued to grow while food prices slipped for the eleventh consecutive month. Inflation remains much lower than China's target of 3%, signaling that additional stimulus measures may be necessary to boost demand.
🤖 Deal of the Day: Mistral AI, a French AI startup, raised a $503M Series B to expand its operations.
What's New?
🌮 Mexico. Mexico stock index down 4%
💰 Funding. Battery swapping, AI startups, customer service + more
💼 M&A. Healthcare agency, digital health and waste recycling
📅 Economics. Fed rate decision, BoJ interest rate, inflation + more
🌮 Mexico Stock Index Down 4%
HolonIQ's Mexico Stock Index has seen a 4% decline, departing from the upward trajectory it had maintained since November 2023. This shift coincides with the depreciation in the Mexican Peso, which recently experienced its worst week since the pandemic. Investor concerns heightened following Claudia Sheinbaum's landslide victory in the recent presidential election, sparking fears of major changes in economic policy.
Despite recent challenges, Mexico's economy remains resilient, supported by its close economic ties with the US and favorable trade agreements. Various sectors, including banking, materials, logistics, and real estate, have shown strength amidst robust domestic demand and positive economic conditions. While uncertainties persist, proactive fiscal measures and economic strengths provide grounds for cautious optimism regarding future recovery. However, sustained political and security concerns remain pivotal factors that could sway investor sentiment and market stability in the near term.
💰 Funding
🤖 Mistral AI, a French AI startup, raised a $503M Series B from General Catalyst to expand its operations.
👥 Cognigy, a German AI customer service company, raised a $100M Series C from Eurazeo Growth to expand its development efforts.
📊 Cyberhaven, a California-based data detection and response company, raised a $88M Series C from Adams Street Partners and Khosla Ventures to expand its product offerings.
🔋 Battery Smart, an Indian battery swapping network, raised a $65M Series B from LeapFrog to further expand in the Indian market.
💊 Adcytherix, a French biopharmaceutical company, raised a $32M Seed from Pontifax to grow operations and enhance development.
💻 Tendred, a Danish digital transformation company, raised a $30M Series A from A.P. Moller Holding to expand its global presence further.
🧬 Moleculent, a Swedish biology platform provider, raised a $26M Series A from ARCH Venture Partners and Eir Ventures to scale its operations and R&D sector.
💼 M&A
🩺 ClinicalMind, a New York-based healthcare agency, acquired Sensified, a North Carolina-based healthcare communication company.
🖥️ NeuroFlow, a Pennsylvania-based digital health platform, acquired Owl Insights, a Washington-based healthcare SaaS platform.
♻️ Certified Recycling, a California-based recycling and waste management company, acquired Waste Control, a California-based waste and recycling consulting services company.
📅 Economic Calendar
Fed Rate Decision, BoJ Interest Rate, Inflation + More
Wednesday, June 12th 2024
🇬🇧 UK GDP, April
🇺🇸 US Core Inflation Data, May
🇺🇸 US Inflation Data, May
🇺🇸 US Fed Interest Rate Decision
🇺🇸 US FOMC Economic Projections
🇺🇸 US Fed Press Conference
Thursday, June 13th 2024
🇺🇸 US PPI, May
Friday, June 14th 2024
🇯🇵 Japan BoJ Interest Rate Decision
🇺🇸 Michigan Consumer Sentiment (Preliminary), June
Tuesday, June 18th 2024
🇦🇺 Australia RBA Interest Rate Decision
🇩🇪 Germany ZEW Economic Sentiment Index, June
🇺🇸 US Retail Sales Data, May
🇯🇵 Japan Balance of Trade, May
Wednesday, June 19th 2024
Thursday, June 20th 2024
🇬🇧 UK BoE Interest Rate Decision
🇺🇸 US Building Permits (Preliminary), May
🇯🇵 Japan Inflation Data, May
Friday, June 21st 2024
🇬🇧 UK Retail Sales Data, May
🇩🇪 Germany HCOB Manufacturing PMI (Flash), June
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