LIV-EX - MARKET UPDATE

FINE WINE 50 REMAINS FIRM

Liv-ex 50: 286.21 (0.056%) | Liv-ex 100: 252.75 (1.05%) | Liv-ex 1000: 254.78 (0.47%)

The sharp rise of the Fine Wine 50 Index from November has been strongly correlated with Sterling weakness. We have previously noted that a change in currency direction would be a true test of the Fine Wine market’s underlying strength. Recently we have started to see this emerge. Sterling has been on an upward trend since early April and last week it hit a three-month high against the Euro at 1.3068 (EUR/GBP 0.7683). As can be seen from the graph below, the Fine Wine 50 was broadly flat for the first half April as the Euro started to weaken. It has, however, held firm and pushed higher over May as the Euro remained under pressure. This suggests that we are now starting to see some genuine follow through buying emerge, that is not solely driven by currency considerations. The Fine Wine 50 is currently at 286.21. This is the highest it has been since the beginning of March 2014.

Liv-Ex Fine Wine 50 vs EUR/GBP