European shares slump, led by commodity stocks, banks
* FTSEurofirst at lowest level since Oct. 2014
* DAX down more than 20 pct from last year's record high
* Oil price loses more ground
* Italian lenders lead banks lower on liquidity concerns (Adds details, updates prices)
By Sudip Kar-Gupta and Danilo Masoni
LONDON/MILAN, Jan 20 (Reuters) - European stocks dropped on Wednesday as a relentless slide in oil prices hit world markets, with a leading regional European equity index falling to a 15-month low.
Several traders and investors said it remained too risky to buy into the stock market at present, given concerns about the global economy and the weak oil price, while some flagged hopes of central bank moves to help calm nerves.
"Stress is high enough to trigger a reaction of monetary authorities to calm down nerves. And (ECB chief Mario) Draghi tomorrow can do something," said Giuseppe Sersale, fund manager at Anthilia Capital in Milan.
The European Central Bank holds its policy meeting on Thursday. Continuación...