Shares in Treasury Wine Estates are rallying

Shares in Treasury Wine Estates jumped after the company reaffirmed its growth outlook for Asia.

A short times ago, the shares were up 6.2% to $12.94.

The owner of the Penfolds and Wolf Blass brands says it continues to have a positive outlook for the imported wine market in China and the company’s performance in the region.

The company was responding to comment by a Goldman Sachs analyst “which potentially give rise to misleading statements”.

Treasury Wine Estates is due to announce its full year results on August 17.

Pierre Muller/AFP/Getty Images

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