Fine wine sales "strong" in January

After a slow start, fine wine trading was "relatively strong" in January - partly driven by overseas investors snapping up bargains created by the weak pound.

Liv-ex, the company which monitors activity in the sector, said turnover in its Fine Wine Index was up 27% on the same period in 2008.

It closed 1.2% up at 209.42 - the first monthly rise in the index since August 2008. Year on year, the index has fallen 13.7%.

Liv-ex reported: "Non-UK buyers continued to take advantage of sterling's weakness, buying top Bordeaux and Burgundy from a wide variety of vintages. January also saw some confidence returning to the First Growth market - with a number of wines seeing a modest uplift in demand, particularly those from less heralded vintages."

Bordeaux sales accounted for 82% of business, the region's lowest share since early 2006. Liv-ex said the "exceptional availability and demand" for Burgundy was the main reason for this. It added: "The Rhone also had an extremely good month, with Clos des Papes and Guigal leading the trading."

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