COVID-19 | Daily Update

Wednesday, May 12th | COVID-19 Daily Update

CURRENT OUTLOOK

In the last 24 hours, there were 19 more deaths in Portugal and 234 new people infected with COVID-19, according to the Portuguese General Directorate of Health (DGS) epidemiological bulletin. 

The data show that the number of fatalities rose from 1,144 to 1,163 (+1.66%), while confirmed cases increased from 27,689 to 27,913 (+0.85%).

There are now 3,013 people in the country who have recovered from the infection, 464 more than yesterday (+18,2%).

 

PANDEMIC IN PORTUGAL

DGS announced yesterday that visits to nursing homes can be resumed next Monday, and has released a series of recommendations so that this process can be done safely.

Daycare centres are also starting to reopen on the 18th, and all the social relief centres that have a “sufficient number of children” will open doors, says the president of the Union of Portuguese Social Relief Centers (Misericórdias). 

Fenprof (National Teachers Federation), on the other hand, considers that the conditions of trust are not yet established for schools to partially reopen on that date. 

Infarmed (Portuguese equivalent to North-American FDA) warned of the existence of counterfeit rapid tests of COVID-19 on the European market, explaining to consumers that they should not be purchased on the Internet.

Tonight the international pilgrimage of May in Fatima begins, in what will be an “atypical” celebration in the face of the pandemic, not counting with the physical presence of pilgrims for the first time in its history.

 

PANDEMIC IN EUROPE AND THE WORLD 

The world must be under “extreme surveillance” to prevent a second wave of infections from the new coronavirus, warned Mike Ryan, director of the World Health Organization (WHO) emergency program, after the number of infected people accelerated in Germany, South Korea and China.

Germany accounts for a total of 170,508 cases of COVID-19, with an increase of 933 compared to yesterday.

In the same period, China detected only one new case of infection with the new coronavirus, after a sudden increase over the weekend.

The number of fatalities in Spain has increased today to 26,920 and the Government has decreed a mandatory 14-day quarantine for all foreigners entering the country starting next Friday.

COVID-19 broke several barriers in the American continent yesterday: in the USA, the deceased exceeded 80,000 and in Brazil, 11,500, while Latin America as a whole is close to registering 372,000 cases.

The African continent currently records a total of 2,336 deaths and 66,373 infected in 53 countries.

Norway was one of the first countries in Europe to reopen daycare centres as well as elementary schools and, after three weeks, guarantees that the measure did not worsen the pandemic in the country.

As for the opening of pools and beaches, a group of Spanish scientists concluded that the water in the pools provided it is properly treated, and seawater, under natural conditions, does not constitute a danger for the spread of COVID-19. The risk lies in the gathering of people.

 

MEDICAL PROGRESS

The European Center for Disease Prevention and Control warns that there will be no vaccine or treatments for COVID-19 in the coming months and admits that the second wave of contagions is “very likely” to occur, advising “caution” in the lifting of confinement measures.

For now, a number that is growing each week is the list of symptoms caused by the new coronavirus. Few organs seem safe from the disease, which leads experts to say that “we have to be suspicious of everything”.

The University of Minho became part of one of the largest studies to assess the impact of COVID-19 on the health of the world population, which “wants to understand that people profiles are at greater or less risk of having health problems during a pandemic”.

 

ECONOMIC IMPACT

The Portuguese Prime Minister today promised quicker support for the reopening of economic activities, arguing that the pandemic is under control and that it is time to take steps to revive the economy. 

The Finance Minister said this morning that until yesterday, wages corresponding to 600,000 workers were paid under the lay-off measures. 

Meanwhile, the Government signed the declaration of commitment for the recovery of the economy with the social partners and AHRESP (Hotels and Restaurants Trade Association).

Entrepreneurs believe that outdoor spaces will be decisive to win customers. As a result, requests for expansion or installation of terraces have increased and municipalities are facilitating licenses.

A Mercer survey reveals that, despite the impact of the pandemic on Portuguese companies, most managed to implement the salary increases planned for this year and more than half confirm they have a continuity plan.  

Another survey, by Aon, involving almost 2,000 participants worldwide, including from Portugal, points out that there are more companies postponing salary increases or even freezing increases in pay.

With “normality” approaching, ACT (Portuguese Authority for Work Conditions) has already published a guide with guidelines for returning to the workplace. 

The return of football main championship has also been under discussion, but players, coaches, and referees still do not agree that they will be liable in the event of contagion.

 

FINANCIAL MARKETS

European stock exchanges started the day in red but showed a mixed trend.

The Portuguese Stock Index PSI-20 was losing more than 1% this morning, a trend similar to Paris and Amsterdam, while Madrid, Frankfurt, and London held on to the green.

European public debt interest rates are rising for the second session in a row, albeit with very slight increases. The yield on Treasury bonds is rising by a base point to 0.94%, thus remaining below 1%.

The dollar rose to a two-week high against the major currencies, driven by rising demand for safe-haven assets at a time when a possible further increase in COVID-19 cases frightens investors. 

Oil recovered this morning from yesterday’s losses, reflecting the surprise cut in production by Saudi Arabia and also signs of increased demand in countries like China and India. 

WTI traded close to $ 25, while Brent advanced 0.84% to $ 29.88.