Treasury Wine shares pop ahead of ASX open on Penfolds focus
Treasury Wine Estates Limited is set to start trading again after the Australia long weekend, with focus on last week’s strong rebound. The shares jumped after a Penfolds overhaul, outperforming as the wider market slipped. ASX cash market is shut on Monday, June 8, for King’s Birthday, so the Friday close at A$4.69 is the most recent price ahead of trading Tuesday. Treasury Wine’s update on its turnaround came as the shares gained 10.61% over seven days, but it is still down 40.66% on a one-year total return basis, according to Simply Wall St.. The timing stands out because the story is still one of repair, not clean growth.