The Liv-ex 1000 index – the broadest measure of the market – fell 1.74% in November, the 9th biggest monthly drop since the index’s inception in December 2003. The Liv-ex 100 (the industry benchmark) and Liv-ex 50 (which tracks the First Growths) also declined by 1.28% and 1.46% respectively.
During the month, Sterling strengthened against the Euro by 1.2% while weakening slightly against the Dollar. The month also welcomed in European Central Bank’s new president, Christine Lagarde. Lagarde will host her first meeting of the Governing Council of the ECB on 12th December, the same day as the UK general election. Further currency volatility can be expected, and with it, some further volatility in the fine wine market.
Within the Liv-ex 1000 sub-indices, the Burgundy 150 once again saw the biggest decline (-2.93%). But all sub-indices fell including the Italy 100 – the top performer year-to-date – down 0.5% in November. The Champagne 50, the second-best performer year-to-date, erased some of its recent gains, down 2.15% on the previous month. Only Champagne and Italy remain in positive territory year to date.