European stocks slump; London down 2.39pc in early trade

LONDON: European stock markets tumbled at the start of trading on Monday as bank shares plunged on talk of a possible Greek default, which also sent the euro and Asian equities crashing.

London's benchmark FTSE 100 index slumped 2.39 percent to 5,089.91 points shortly after the open, Frankfurt's DAX 30 index shed 2.44 percent to 5,063.85 points and in Paris the CAC 40 plunged 3.32 percent to 2,875.90.

Milan dived 3.0 percent and Madrid 2.21 percent.