Record heat and drought make this year's champagne stronger

For the first time, French champagne producers are allowed to sell their bubbly with more than 13% alcohol, as record heatwaves and drought have resulted in grapes containing unusually high levels of sugar.

They fear that climate change may eventually force them to permanently rewrite the rules governing winemaking.

Also in the segment, the European Central Bank raised interest rates for the second time this year amid higher energy costs, as a potential new gas crisis looms over Europe.