French Cognac Makers Rise on Reported Deal to End China Spat
Shares of Pernod Ricard SA and Remy Cointreau SA rose after Reuters reported the cognac makers had agreed a tentative deal with the Chinese government to end a months-long trade spat.
France's biggest cognac makers had been unable to sell through China 's duty-free channels since December following an investigation into allegations that producers were dumping the spirit into the market. The ban was temporarily lifted on April 5, with the outcome of the probe pushed back to July.
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