Remy Cointreau, Pernod Ricard shares hit by China anti-dumping probe

Shares in famous French spirits companies Remy Cointreau and Pernod Ricard slumped on Friday after China started an anti-dumping investigation on brandy imported from the European Union.

The probe follows a complaint submitted by the China Alcoholic Beverages Association on behalf of China's brandy industry, the country’s commerce ministry said. It will focus on brandy in containers of less than 200 litres from the European Union.

Pernod Ricard and Remy Cointreau sell cognac, brandy under brands including Hennessy, Remy Martin and Martell.

Reporting by Frank Prenesti for Sharecast.com