European stocks slump to lowest in a month

* FTSEurofirst 300 falls 1.9 pct, hits one-month low

* Banking shares tumble on UBS results, UK bank shake-up

* Swiss Re one of small number of risers

* For up-to-the-minute market news, click on [STXNEWS/EU]

By Brian Gorman

LONDON, Nov 3 (Reuters) - European stocks fell sharply to a new one-month low on Tuesday, with banks suffering after poor results from UBS (UBSN.VX: Quote, Profile, Research) and a shake-up of the UK retail banking sector.

At 1144 GMT, the FTSEurofirst 300 index of top European shares was down 1.9 percent at 961.30 points and had hit a one-month low of 959.11 points earlier in the session.

The European benchmark is still up nearly 49 percent from its lifetime low of March 9, as several major economies have come out of recession.