Sterling was up against the Dollar and the Euro again this week, but this did not stall the momentum of the Fine Wine 50 Index which closed at 315.98 on Thursday, up 0.6% on the previous week. The index is now at its highest level since July 2013 and has continued to firm over August on the back of brisk activity, unusual for August.
Bordeaux activity was up at 77.5% with high-value wines boosting the region’s share. First Growth trade was strong at 42%, up from 27.1% last week. Lafite Rothschild 2010 (WA 98) was the top wine traded by value. Petrus 1999 (WA 94) and Petrus 2010 (WA 100) were in the top ten wines traded by value this week. Petrus has recently seen good activity in August and a number of wines have hit all-time highs.
Most of the other regions were lower than the previous week apart from Italy which was boosted by good volumes of the Super Tuscans. Sassicaia 2011 (AG 92) was the top wine traded by volume and Ornellaia 2011 (AG 97) and Masseto 2010 (AG 98) were also active.
Chilean wine, Los Vascos, Dix 2011 (WA 92) – a domain of Chateau Lafite Rothschild – was among the top five wines traded by volume this week. Luis Gutierrez of the Wine Advocate described the wine as “a textbook Cabernet Sauvignon” and noted that it was one of the first French investments in Chile. It was the first time the vintage had traded on the Exchange.