The industry benchmark, the Liv-ex 100, closed November at 304.42, down 1.28% on the previous month. This is the third consecutive month of losses for the index and the largest single month move since November 2017 (+1.3%).
Sterling strengthened against the Euro by 1.1% over the period, while weakening slightly against the Dollar. As US tariffs began to bite and instability in Hong Kong continued to make headlines, buyers became increasingly cautious reducing their commitment to the market.
The top movers in November came from variety of regions: Burgundy, Italy, Rhone and Champagne. The top mover, Domaine Leflaive, Puligny Montrachet Clavoillon 2015, rose 7.3%. The producer is expected to release the 2018 vintage this December.
Two wines from Barolo were also among November’s biggest risers. Italian wines are exempt from US tariffs.
Wines from Burgundy and Bordeaux made up the list of largest decliners. Both Haut Bailly 2009 (-6.2%) and DRC, Tache 2015 (-6.1%) fell for the second consecutive month.