The week in fine wine was dominated by the result of the EU referendum. Jane Anson writing in Decanter described the view on Brexit in Bordeaux, while The Drinks Business provided a round-up of reactions from key figures within the drinks trade. Harpers reported on Liv-ex’s experience that following initial reactions, the fine wine market was returning to normality – although Sterling weakness has led to increased dollar-based buying.
Despite financial volatility, the Liv-ex Fine Wine 50 closed the week on 292.16, up 1.8% on last week’s close. This puts the index up 10.3% year to date, rising 27.28 points on 2015’s close of 264.88.
Bordeaux had a solid week of trade. Following a paltry 14.4% share last week, First Growths bounced back to take a third of all trade by value. Haut Brion and Lafite took the lion’s share, with the 100-point Lafite Rothschild 2003 the fifth most traded wine by value. 99-point Montrose 2003 – described by Parker as “a candidate for a perfect score” – also featured in the top five table.
It was also a good week for the ‘Others’ category, which includes Australia and Spain. These regions saw their market shares rise to 2.9% and 3.0% respectively – more than the Rhone – as parcels of Penfolds St Henri Shiraz 2012 and Vega Sicilia Unico 2007 changed hands.