Portugal Telecom shares plummeted 19.48% to €0.65, the day after the Portuguese stock market regulator (CMVM) ordered searches of the PT SGPS headquarters and five days before the general shareholder meeting is to vote on the sale of PT Portugal.


The step fall of shares in PT SGPS, which owns almost €900 million of commercial paper in Rioforte, part of Grupo Espirito Santo (GES), and a stake in Brazilian operator Oi, comes just before the AGM, scheduled for 12 January.


The banking sector saw BPI slip 3.94% to €0.90, BCP shed 2.43% to end at €0.06 and Banif lost 1.67% to close the day’s trading at €0.005.


A year ago the PSI20 was over 7,100 points