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S&P lowers Mexico’s debt on the impact of coronaviruses S&P Global lowered Mexico’s sovereign debt due to the economic impact of the coronavirus and the oil price shock. The rating remains investment grade, but the outlook is negative. The rating agency said that foreign currency debt had been downgraded to BBB from BBB + and local currency debt to BBB + from A-. BBB- is the agency’s lowest investment rating.
US Navy hospital ship to reach New York weeks earlier than expected Donald Trump said a U.S. Navy hospital ship would reach New York on Monday, weeks ahead of schedule. The USNS Comfort has been integrated into the national fight against the coronavirus and will take hundreds of patients without the disease to release a cruelly stretched bed capacity in New York.
EU imposes two weeks to present joint budget response EU leaders have given themselves two weeks to submit a joint tax response to the coronavirus, saying the plans “should take into account the unprecedented nature of the Covid-19 shock”.
Coronavirus cases in Brazil approach 3000 The number of confirmed cases of Covid-19 in Brazil rose to 2,915 on Thursday as Jair Bolsonaro was faced with a growing backlash against his handling of the pandemic. The right-wing president called the actions of some governors and mayors of state “crimes” that shut down public places and non-essential businesses to slow the coronavirus epidemic.
Mexico reports sharply lower number of cases compared to US border states Mexico reports considerably fewer cases than neighboring states across the border, highlighting fears that a low level of testing could mean that the actual number of cases is higher.
Safran waives its dividend and withdraws its targets Safran has cut its dividend, withdrawn its targets for this year and set up a new credit line of 3 billion euros as the French manufacturer of jet engines seeks to restore order to its balance sheet in the middle of the year. impact of the coronavirus. With the exception of Safran, the world’s third largest supplier of aeronautics, around € 1 billion in cash.
Wall Street rallies again amid optimism for fiscal stimulus U.S. stocks ended their best three-day stretch since the 1930s after the U.S. Senate unanimously approved a $ 2 billion economic stimulus package to counter the impact of the coronavirus epidemic.
The S&P 500 advanced 6.2%, as utilities, real estate and health care led the charge higher. The Dow Jones Industrial Average climbed out of its bear market, gaining 6.4%, which brought the benchmark gauge more than 20% above its recent trough. The Nasdaq Composite jumped 5.6%.
Beyond Meat gets hit by Goldman analysts Goldman Sachs demoted the Beyond Meat plant-based meat group from neutral to sold, reducing its target price by nearly 70% to $ 129 from $ 129. Bank analysts said that with more than the half of its sales in the restaurant sector, the factory- The company based on meat substitutes was one of the companies directly affected by the coronavirus epidemic in the companies covered.