The Liv-ex 1000 index – the broadest measure of the market – dipped 0.9% in February to close the month at 358.9. The industry benchmark, Liv-ex 100, also fell by 0.7% this month.

All of the Liv-ex 1000 sub-indices pulled back, apart from the Bordeaux Legends 50, which gained 0.9%.

The Burgundy 150 – the star of 2018 – was the biggest faller, down 3%. The index pulled back from record levels set in 2018. Merchants reported a drop in demand from Asia as Chinese New Year holidays got under way.

However, the performance gap between Burgundy and the other regions remains wide open. As the chart below shows, the Bordeaux 500 is the worst performing index over a one-year period, while Burgundy is the best.