(Telegraph) - Fine wines have been hit hard by the global downturn, with the Liv-ex Fine Wine 100 index down 10pc year-on-year in July according to Cellar Watch's most recent market report. But, the index compiler said the pace of declines had "notably" slowed last month and pointed to increasing exchange turnover, despite eurozone woes and the deepening double-dip recession in Britain. "It is value rather than volume that has suffered recently," said the report.