Annabella Quiroga
02/27/2020 - 12:30
- Clarín.com
- Economy
- Economy
The markets face another negative day this Thursday, with widespread falls in the global stock exchanges as a result of fears that the impact of the coronavirus on the global economy arouses. Argentina also received the coup, boosted by local news that made bonds fall and consequently raise the country risk . The JP Morgan indicator - which measures the over-rate that the country pays to borrow in relation to US Treasury bonds - rises 5.8% this morning and reaches 2228 basis points , the highest record since the beginning from the presidency of Alberto Fernández.
At the local level, investors reacted negatively to two announcements that met yesterday late in the afternoon. The first was the primary fiscal deficit of January , which reached $ 3,766 million, compared to a surplus of $ 16,658 million in the same month of 2019. At the same time the financial deficit - which computes the payment of interest on the debt - reached the $ 90,818 million. These numbers show the difficulties that the Government has in order to order public accounts in the midst of an economy that is still in recession.
To this was added that yesterday a new placement of Treasury Bills in pesos for $ 2,358 million was made and also redeemed the AF20 bond for a total amount of $ 6,864 million . In this way, between this operation and that of 20 days ago, they managed to exchange 18% of this dual bond that had $ 96,000 million of overdue capital and whose payment was postponed to September. For the market, yesterday's result was a little pleased with the strong debt maturities that are coming and the lack of concrete progress in terms of restructuring.
Thus, dollar bonds fall 2% on average and Merval falls 3.2% in what appears to be another black day for Argentine stocks. The Argentine discount law leads the decline with a decrease of -2.4%.
The dollar remains unchanged with the retailer at $ 63.96 at the Central average and the cash with liqui at $ 80.85 , up 0.4% from yesterday's level. The wholesaler is located at $ 62.14.
On a global level, the main European stock markets fell by around 3% due to the expansion of the coronavirus in that continent.
In London, the FTSE-100 index of the main securities lost 3.1% , as did the DAX index of the Frankfurt Stock Exchange and the IBEX 35 in Madrid. In the Paris stock market, the CAC 40 index lost 3.4% . In New York, the Dow Jones falls 2.5% and the San Pablo stock market, which yesterday collapsed 7% when it was known that the coronavirus arrived in that country, fell 2.9%.
