Liv-ex 100 up again
After the longest bear market on record things may be starting to change after another positive month on Liv-ex.
“The positive sentiment is gathering momentum,” Liv-ex director Anthony Maxwell told the drinks business. “It’s now two months in a row where the LX100 is up.” This key indicator closed the month on 236.86, up 0.3% on August. Prior to that, there had been no growth since March 2013. For Maxwell, another ‘confidence indicator’ was the 20% increase in the total value of bids on Liv-ex in September.
While First Growths led the way in August, this month only Latour 2006 made it into the top five highest movers, climbing 7.6% to £3,550. By contrast the best performer was Montrose 2010 whose price leapt by almost a fifth following its Parker upgrade from 99 to 100 points in late August. It had been 40% cheaper than Montrose 2009 which scored 100 from the outset. Today the price gap has almost halved to £342.
The Liv-ex 50 which tracks the First Growths over the last ten vintages dipped slightly to 265.25, meanwhile Italy has been doing well. Last week it took 7.3% of trade which suggests merchants are starting to stock up on drinking wines for Christmas. Top five performers included San Guido 2011 and Fuligni, Brunello 2008, and there was also brisk trading in recent vintages of Sassicaia and Masseto 2011 among Super Tuscans.