China’s Thirst for Australian Wine Drives Treasury Share Surge
- Shares in Penfolds maker jump by most since January 2017
- Wine industry group says exports to China increase by 55%
Photographer: Zachariah Hagy
This article is for subscribers only.
Treasury Wine Estates Ltd. shares rose the most in 18 months after Australia’s industry group said the country’s exports to China surged 55 percent in the past 12 months.
Australia’s only listed winemaker closed 5.5 percent higher at A$19.34, its biggest gain since January 2017. The Melbourne-based firm has gained 21 percent year to date, beating the 3.3 percent rise on the benchmark S&P/ASX 200 index.