LONDON, Jan 29 (Reuters) - Shares in Spanish construction group ACS fell sharply on Monday afternoon as analysts pointed to reports in the Spanish press that Spain's Supreme Court had dismissed a 4 billion euro lawsuit by ACS subsidiary Abertis against the Spanish state.

At 1341 GMT, ACS shares were down 7.8%, reaching the bottom of the STOXX 600, and those of Germany's Hochtief were down 6.5%.

ACS owns 75% of Hochtief, according to LSEG data.

(Reporting by Lucy Raitano; edited in Spanish by Benjamín Mejías Valencia)