LONDON, Feb 2: European stock markets dropped on Monday, dragged down by shares in ailing banks and a bleak report on US consumer spending and income, dealers said.

London’s FTSE 100 index fell 1.73 per cent to 4,077.78 points. The DAX index in Frankfurt closed down 1.55 per cent at 4,271.04 points and the CAC 40 in Paris dropped 1.48 per cent to 2,930.05 points.—AFP