Gold miner plunges after Reuters beats competition on Greek permit disappointment

Shares in European Goldfields fell over 20 percent on Feb 24, wiping as much as $600 million off the value of the company, after Reuters reported a minister saying that Greece was not yet ready to grant the firm a permit to run two goldmines in the country. The stock was suspended pending a response from the company while Dow Jones cited the Reuters story in a stock market report and it also featured in almost all morning notes from Greek brokerages. In London analysts at Liberum Capital cited the Reuters report as the reason for the share price fall.