Vinci shares hit by hoax

A hoax statement purporting to come from French-based contractor Vinci hit the company’s share price on Tuesday.

It said that a fake press release had been put out, adding “Vinci denies formally all the information contained in this fake press release and is investigating all legal actions in furtherance thereof”.

The bogus release apparently suggested that there were financial irregularities and that Vinci’s finance director was to be fired. Just after the fake announcement, the company’s share price fell by 18%, although an hour later saw a recovery to just below where it started the day.