Equities sink as 'last attempt' Greek talks collapse

The FTSE 100 has opened 0.5% lower, with European stocks deeper in the red, after Greece's bailout talks with creditors broke down overnight.

The blue chip index dropped 0.45% to 6,750 at the open, with Germany’s Dax down 1.4% at 11,042, following on from a similarly downbeat performance from Asian stocks. Hong Kong’s Hang Seng was 1.5% lower shortly before the close, after the European Union’s executive commission said on Sunday evening that “last attempt” at finding a solution on Greece had failed. Creditors’ rejection of Greece’s latest proposals for economic reform have sparked renewed concerns of a default. Greece is attempting to secure a further €7.2bn funding package before its current EU bailout expires at the e...