Raise your hand if you enjoy a glass of wine!
Well…global wine production has remained steady over the past twenty years.
Yearly average is 240 million hectoliters over 50% of which come only from three countries…
Check out the map below for more info.
Across Markets…
The Australian sharemarket extended losses recorded earlier during the trading session, down 0.5 per cent, or 32.6 points, to 7115.5 at the closing bell.
The consumer staples and information technology sectors were the worst performers, dragged lower by disappointing earnings results.
Dairy producer A2 Milk shares sank 13.6 per cent after it warned that its key China market this year will be more challenging with a further double-digit decline in value expected.
Elders plunged 10.8 per cent after it downgraded its profit forecasts, citing weaker-than-expected sales.
Software company Iress shares cratered 35.5 per cent and was among the worst performers on the ASX. It suspended its interim dividend following the completion of its plan to sell its managed funds administration business.
Meanwhile, Ampol rallied 3.8 per cent following its CFO told investors that it won’t do a deal that would require a capital raising.
Premier Investments surged 12.2 per cent following its announcement that the decision to undertake an operational review – helped by UBS and Arnold Bloch Leibler – would help unlock value in the company’s various businesses.
The Bank of Japan is purchasing government bonds at a record pace this year, a factor that likely prompted its recent move to allow larger yield movements to reduce the strain on its control of longer-term interest rates.
Chinese banks made a smaller-than-expected cut to their benchmark lending rate on Monday and avoided trimming the reference rate for mortgages, despite the central bank putting pressure on lenders to boost loans.
The one-year loan prime rate was lowered by 10 basis points to 3.45 per cent from 3.55 per cent, a slighter reduction than what most economists surveyed by Bloomberg had expected.
The five-year rate, a reference for mortgages, was unexpectedly kept steady at 4.2 per cent, according to data from the People’s Bank of China. Most economists had predicted a 15 basis-point cut.