Updated on
Summary Australian stocks slumped 2.16 percent Monday after election outcomes in France and Greece.
The benchmark S&P/ASX 200 fell 94.7 points to 4,301.3 while the broader All Ordinaries index was 2.19 percent lower, losing 97.8 points to 4,361.6.Along with Europe issues and growth concerns, the budget will be in focus this week and is likely to keep some investors at bay, said IG Markets analyst Stan Shamu, referring to Tuesdays national budget.We might see caution being exercised as fears grow over the level of cuts that the government is proposing.The Australian dollar also lost ground and was trading at 101.44 US cents late in the day, down from 102.64 on Friday.
