German stocks drop more than 2.0pc at open

FRANKFURT: German stocks opened 2.4 percent lower on Monday, pulled down by sharp losses in banking and financial stocks.

The blue-chip DAX 30 index opened at 5,063.59 points, a drop of 126.34 points or 2.4 percent from the closing level of Friday.

Banking stocks were the biggest losers, with both Deutsche Bank and Commerzbank shares down around 7.5 percent amid persistent concerns about the eurozone debt crisis.