Pescanova SA, Spain’s largest fish processor, gained as much as 12 percent in Madrid trading after Spanish newspaper “El País” reported that two people have recently died in the country from so-called mad cow disease. The report has been confirmed by the health ministry. This is the first victim of mad cow disease since 2005.

The shares added as much as 3.85 euros to 36.49 euros, their biggest one-day percentage increase in 5 years. The stock was up 7.23 percent at 35.00 euros at closing (5:35 p.m. local time).

Further increases can be expected if more cases are detected in the future, as scared people shift away from meat consumption to its most obvious substitute. However, it is important to bear in mind that even though previous similar news have also had a positive impact on the price of the stock, as it ocurred with bird-flu occurrances, they have never actually had a significant impact on the comnpany’s earnings results.