🐪 Saudi Arabia Stock Index Up 3%. $470M+ VC Funding.

Mālō e lelei 🌴

📉 Today's Global Economic Update: The Bank of Japan kept rates unchanged at 0% to 0.1% in June post its first hike since 2007 in March, hinting at possible cuts to monthly JGB purchases of JPY 6 trillion in July.

💊 Deal of the Day: Santa Ana Bio, a California-based precision immunology company, raised $168M from Google Ventures to expand operations and its R&D sector.

What's New?

🐪 Saudi Arabia. Saudi Arabia stock index up 3%
💰 Funding. Precision immunology, biotechnology, battery materials + more
💼 M&A. Biopharmaceutical, healthcare and data analytics
📅 Economics. UK inflation, interest rate, balance of trade, + more

🐪 Saudi Arabia Stock Index Up 3%

Over the past year, the Saudi Arabia stock index has risen by 3%, reversing a contraction in the second half of 2023. However, in the past three months, the index is down 8% with recent losses being driven by concerns over falling crude oil prices and persistent inflation in major economies including the US. Fluctuations in oil prices, global economic conditions, and regional political dynamics have resulted in the Tadawul All Share Index, a major stock index tracking the performance of all companies listed on the Saudi Stock Exchange, experiencing volatility in recent months. Looking ahead, the performance of the Saudi stock market remains closely tied to global oil prices. While further declines in oil prices could negatively impact the market, positive performances in sectors like logistics and healthcare, along with ongoing economic reforms under Saudi Vision 2030, a government program aiming to diversify the economy suggest potential for long-term growth.

💰 Funding

💊 Santa Ana Bio, a California-based precision immunology company, raised $168M from Google Ventures to expand operations and its R&D sector.

🔬 InduPro, a Washington-based biotechnology company, raised a $85M Series A from The Column Group and Vida Ventures to support the advancement of its clinical trials.

📊 AccountIQ, an Irish cloud-based accounting platform, raised a $64.6M Series C from Axiom Equity to accelerate its growth and expand its team.

🔋 Echion Technologies, a UK-based battery materials company, raised a $37M Series B from Volta Energy Technologies to execute a go-to-market strategy.

🏠 Findigs, a New York-based property technology company, raised a $27M Series B from Nyca Partners to enhance screening automation.

💊 Better Health, a California-based medical supply and support provider, raised $14M to enhance solutions for payers and providers.

💼 M&A

🧬 Alta Semper, a UK-based private equity firm, acquired Allmed Group, a UK-based biopharmaceutical and healthcare company.

👩‍🔬 Healthly, a California-based healthcare organization, acquired Lifestyle Medical, a California-based primary care company.

💼 Epam Systems, an Australian digital transformation company, acquired Odysseus Data Services, a Massachusetts-based health data analytics company.

📅 Economic Calendar

UK Inflation, Interest Rate, Balance of Trade, + More

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

🇬🇧 UK Inflation Data, May

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

Like getting this newsletter? For unlimited access to more deals and economic updates, request a demo.

Thank you for reading. Have a great week ahead!
Have some feedback or want to sponsor this newsletter? Let us know at hello@holoniq.com