First growths lead January price surge

4th February, 2013 by Rupert Millar

Liv-ex’s Fine Wine 100 index rose at its fastest rate for two years in January led by first growth Haut-Brion and super second Léoville Poyferré.

The five Bordeaux first growthsIn the highest month-on-month move since February 2011, the index, which tracks the 100 leading labels in the fine wine world, ended last month up 2.8% to finish on 268.13 points.

The other indices charting the most recent vintages of top performing wine labels, such as the Bordeaux 500, the Investables and the Liv-ex 50 all rose between 2.2% and 3.5% over the month as well.

The biggest movers on the Fine Wine 100 were nearly all first growths, while the worst performing wines were more mixed in origin.

Haut-Brion 2008 led the risers, up 10.7% to a mid-January price of £2,924 a case. Léoville Poyferré 2009 was close behind, up 9.5% to £1,550.

Mouton Rothschild 2000 and 1998 and Lafite 2003 followed with rises of 7.5%. Mouton’s 1996 saw positive growth in November last year.

Following a sudden rush in popularity towards the end of last year, Cristal took the biggest tumble in January, slumping 5.9% to £1,240 a case.

Cos d’Estournel followed with a 5.8% fall to £2,322 a case. It was recently noted that of the five leading Right Bank estates, Cheval Blanc is consistently the most mediocre performer.

Yquem 2007, Lafite 1998 and Ornellaia 2004 fell between 3.4% and 2.5% as well.

Following a storming performance of late, Italy’s share of trade on the index was the lowest it has been in 18 months.

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