Teden IPOX®, 26. julij 2021

Julij 26, 2021

• IPOX® 100 U.S. (ETF FPX) leads U.S. equity indexes rankings with +6.60% gain.
• Strong earnings and massive corporate actions reasons behind the big rally in IPOX®.
• IPOX® SPAC (SPAC) struggles anew, drops for fourth week.
• Historic IPO wave continues as deals are well received. Low-float Robinhood lined up.

WEEKLY Summary: Big earnings and massive corporate actions activity propelled select Indeksi IPOX®. Most upside was recorded by the IPOX® 100 US (ETF: FPX) which traded as the best performing diversified U.S. equity index, adding +6.60% to +8.54% YTD, significantly ahead of the S&P 500 (ETF: SPY), benchmark for U.S. stocks. Big strength extended to markets abroad with the IPOX® 100 Evropa (ETF: FPXE) closing out the week at a fresh all-high high and settling above the key 2000 level for the first time. Despite the plunge in China-linked stocks on more regulatory overhang and seemingly foreign repatriation selling benefiting the large-cap Developed Markets benchmarks most, the big week for Europe-linked exposure was enough to push the IPOX® International (ETF: FPXI) into positive territory, adding +0.59% to -1.93% YTD and outperforming its benchmark.

IPOX® 100 US Vlaganje z "FPX" ETF od leta 2006

IPOX® portfolio hodlings in focuS:  With global earnings season in full swing and massive corporate actions underpinning strength, the dispersion of returns amongst individual IPOX® portfolio holdings diverged sharply.   Untracked in the key benchmarks due to its unconventional voting structure, for example, IPOX® heavyweight U.S. social networker Snap (SNAP US:  +31.46%) ranked amongst the best performing IPOX® portfolio holdings. Other companies which surged included Europe-domiciled deals such as German Covid-19 vaccine maker BioNTech (BNTX US:  +21.81%), Swedish private equity firm EQT (EQT SS: +19.73%), Brazil’s payment processor PagSeguro (PAGS US:  +12.97%), U.S. social networker Pinterest (PINS US:  +11.90%) or U.S. high-end outdoor/recreational goods maker yeti (YETI US:   +11.16%).   In IPOX® korporativna dejanja, we note Friday’s massive bid for Swedish automotive technology provider Spin-off U.S.-traded Veoneer (VNE US: +58.22%), a portfolio holding in the IPOX® 100 Evropa (ETF: FPXE). Amid the shortened trading week in Japan and regulatory actions impacting China-domiciled stocks, IPOX® portfolio holdings domiciled across Asia-Pacific traded broadly lower, such as real estate services providers Storitve Sunac (1516 HK) and Storitve podeželskih vrtov (6098 HK: -8.29%), biotech companies Wuxi Biologic (2269 HK: -7.29 %) in Pharmaron Beijing (3759 HK: -6.80%), as well as mobile phone maker Xiaomi (1810 HK: -6.73%).

* Osnova za trgovanje s CME e-mini IPOX® 100 terminske pogodbe ZDA (IPOU1). *na voljo tudi v obliki UCITS v Evropi v EUR (EPFX IM,), USD (IPXE LN) in GBP (FPX LN).

IPOX® SPAC INDEKS (SPAC): Indeks je padel za -0.18 % na -6.06 % YTD in +39.54 % od lansiranja 7. 30. 2020. Novice SPAC vključujejo: 1) 8 SPACs Announced Merger Agreements: a) Dragoneer Growth Opportunities II z Cvent; b) Power & Digital Infrastructure z Temeljni znanstveni in c) Investindustrial Acquisition z Zegna. 2) 10 SPAC odobrenih poslovnih združitev vključuje: a) Churchill Capital IV z Lucidni motorji (LCID: 7/26); b) CM Life Sciences z 4. teden in c) Gores Holding VI z Matterport (MTTR). 3) SPACs reportedly in talks etc.: a) Supernova Partners Nakup with restaurant data platform Buyers Edge Platform; b) Pershing Square Tontine revoked 10% Universal Music Group pridobitev. 4) Prejšnji teden je bilo lansiranih 5 novih SPAC.

Weekly GLOBAL Deal-flow Review and Outlook:  39 IPOs debuted globally with the average equally-weighted deal adding +10.32%. Most IPOs debuted strongly, including drug development platform Absci (ABSI US: +43.06%), database firm Kavč (BASE US: +41.63%), London-based private equity group Bridgepoint (BPT LN: +38.29%) and specialty insurance group Ryan Speciality (RYAN US: +21.66%). More IPOs scheduled toward month-end include the most anticipated offer of the year, trading platform, low-float Robin Hood (HOOD US), language learning app Duolingo (DUOL US), food and vegetable producer Dole (DOLE US), Altice ad-tech spin-off Teads (TEAD US) and Brookfield’s automotive battery maker Clarios (BTRY US). Other IPO news: a) Azijsko-fuzijska restavracija PF Chang, kripto izmenjava Binance ZDA, Warburg Pincus-backed AI drug discovery Zdravilo Insilico mull IPO; b) Asia-Pacific sees multiple upcoming billion-dollar IPOs including Indonesia e-commerce giant Bukalapak (BUKA IJ: 8/6), South Korea digital lender KakaoBank (323410 KS: 8/6), video game developer krafton (259960 KS: 8/10) and payment service provider Kakao Plačajte (377300 KS: 8/17). Zomato (ZOMATO IN: +65.79%) becomes largest tech IPO in India’s history and largest Indian IPO YTD.

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Source: https://www.lightspeed.com/active-trading-blog/the-ipox-week-july-26th-2021/