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Lisbon stocks fall more than 3.4%

The Lisbon stock exchange's main share index PSI-20 was down more than three percent during trading on Tuesday, dragged down by corporate developments.

In early afternoon trading, the index was showing a loss of 3.4 percent to 6,007.92 points, with shares in food distributor and retailer Jeronimo Martins down by more than 6.0 percent.

Jeronimo Martins's number two investor, Asteck SA, a unit of the Dutch group Heerema, sold half of its 10.0 percent stake in the company.

Portuguse banking shares were also down, with BPI losing 2.7 percent, BES 2.33 percent and BCP 1.92 percent.