[ad_1]
It was not a good day for Chilean equities, especially for retail stocks. The Santiago Stock Exchange turned red after learning that 73% of the communes in the Metropolitan Region will be in quarantine as of this Friday and that the number of people infected by coronavirus recorded a record number of daily cases.
At the close of operations, the IPSA fell 3.48% to 3,604, 86 points, its lowest level since April 2.
According to the Bloomberg record, the papers of the companies in Chile began to dramatically deepen their fall in the hours of the announcement by the Ministry of Health about the new communes entering quarantine.
In this context, the actions linked to retail and consumption suffered serious losses. The Polar (1-0.63%) e Hites (-10.36%) led the setbacks in that sector, followed by Ripley (-9.30%), Tricot (-7.16%) and Falabella (-6.05%), which yesterday presented its results corresponding to the first quarter.
Latam Airlines, which had reacted with a violent 10% drop at the time of the announcement, finally moderated its pullback to 5%.
The IPSA thus completes four consecutive falls, in which it accumulates a contraction of 9.9%. So far in 2020, the selective index is down 22.81%. According to Bloomberg, the Santiago Stock Exchange is the third most falling (measured in dollars) in the world.
However, the fall in the local square also occurs on a day in which the main markets of the world also fall. The pessimism in the main economies of the world is marked before the reopening of the economy, for example, of the USA, means a rebound of positive cases due to coronavirus.
In addition, it adds the warnings of the President of the Federal Reserve, Jerome Powell, who said that the United States faces a recession “significantly worse” than any other crisis that has arisen since the Second World War, according to Reuters.
[ad_2]
