Treasury Wine shares jump on US supply chain overhaul

Shares in Treasury Wine Estates rose sharply after the Australian winemaker detailed changes to its US supply chain, a move that addressed investor concerns about inventory levels in its Americas business. The company's US operations, which include the Daou and Beringer brands, have been a focus for shareholders because of oversupply in the premium American wine market and the resulting pressure on pricing and working capital. The supply overhaul is intended to bring production and stock levels closer in line with demand. Separate coverage of the session also flagged declines in Westpac Banking shares, leaving the two among the more active names on the Australian market.