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Tue, December 10, 2024
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Treasury Wine share price jumps on big China news

Treasury Wine share price jumps on big China news


Published on 2024-12-09 19:01:36 - MSN
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  • The popular Penfolds brand may have found its home in China. The post Treasury Wine share price jumps on big China news appeared first on The Motley Fool Australia.

Treasury Wine Estates (TWE) experienced a significant surge in its share price following the announcement that China would lift anti-dumping and anti-subsidy tariffs on Australian wine. These tariffs, which had been in place since 2020, severely impacted TWE's exports to China, previously its largest market. The removal of these duties is expected to boost TWE's sales, with the company's shares jumping nearly 6% in early trading. This news comes as part of a broader improvement in trade relations between Australia and China, with expectations that other trade restrictions might also be eased. The positive market reaction reflects optimism about TWE's potential to regain its foothold in the lucrative Chinese market.

Read the Full MSN Article at:
[ https://www.msn.com/en-au/money/economy/treasury-wine-share-price-jumps-on-big-china-news/ar-AA1vySFb ]
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