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Flicker of hope for fine wine in February
February saw the Liv-ex Fine Wine 100 index experience the faintest flicker of a rise, despite grim prevailing market conditions.
Despite the start of Brexit negotiations (the outcome of which remains uncertain) and the on-going spread of the Covid-19 outbreak, the benchmark Liv-ex index rose 0.22% last month after what has been a long and disappointing stretch.
Liv-ex reported that Italy and Champagne were the main drivers of the market, while Bordeaux and Burgundy drifted.
As reported last month, the decision in the US not to apply universal 100% tariffs on EU wines caused a bounce in US trading which provided a fillip to the market.
The 14 Italian wines in the Liv-ex 100 rose 1.3% on average, with Gaja’s 2013 Sperss and the 2015 Masseto being the best performers, up 6.3% and 4.9% respectively.
The Champagnes on the list rose 0.7% on average with the 2009 Dom Pérignon rising 5.9%.
Despite Burgundy drifting overall, Domaine de la Romanée-Conti’s 2014 Richbourg and Domaine Leflaive’s 2015 Puligny Montrachet Clavoillon rose 14.3% and 8.9% respectively – the best performers.
Armand Rousseau’s 2016 Chambertin Clos de Beze wa the month’s worst performer, meanwhile, seeing its price slip 11.7%, while the 2015 Screaming Eagle, François Lamarche’s 2015 Grande Rue, the 2010 Léoville Poyferré and 2005 La Mission Haut-Brion were also big fallers.