Australia shares tumble 2 pct as Greek anxiety takes toll

* Australian shares fall for the third straight day

* Shares (Berlin: DI6.BE - news) set to end June in the red

* 14 shares up, 183 down, 4 unchanged (Adds analysis, quotes, stocks on the move)

By Pauline Askin and Gyles Beckford

SYDNEY/WELLINGTON, June 29 (Reuters) - Australian shares skidded 2 percent on Monday, wiping out nearly all of this year's gains, as investors bailed out from riskier assets on concerns about prospect of a Greek debt default after it failed to strike a deal with its lenders.

Greece will keep its banks closed on Monday and implement capital controls after international creditors refused to budge on bailout terms.

The S&P/ASX 200 index fell 105 points to 5,441.3 by 0235 GMT, its third straight day of losses. The benchmark, up 0.5 percent so far this year, has fallen for each month since March.

"When you have a piece of uncertainty, a piece of bad news, people tend to react with knee jerk fashion. That's what we're seeing this morning," said Craig James, Chief Equities Economist, Commonwealth Securities.

All sectors dropped, with banks leading the fall. ANZ Bank and Westpac fell 2.8 percent each.

Anxiety over Greece overshadowed China's decision to cut lending rates for the fourth time since November.

A jump in gold prices boosted the sector's shares with Newcrest Mining (Dusseldorf: NMA.DU - news) , up 1.9 percent, among the top percentage gainers on the index.

Investment group Perpetual Ltd fell as much as 6.4 percent to its lowest since Jan. 29, on track for the biggest single-day loss since August.

U.S. stock futures dived almost 2 percent at one point to hit a three-month low, and last traded down 1.6 percent.

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New Zealand's benchmark NZX 50 index fell 0.87 percent or 49.56 points to 5,605.46.

New Zealand stocks were battered to a five-month low as fears of a debt default by Greece sent investors looking for safety.

The benchmark NZX-50 share index fell 55.6 points or 1.0 percent to 5,699.84, the lowest since late-January, with leading stocks bearing the brunt of the selling.

Software (Xetra: 330400 - news) company Xero and casino operator Sky City were each down 2.4 percent, with Fletcher Building (NZSE: FBU.NZ - news) down 1.7 percent, and telecommunications company Spark 0.7 percent lower.

Brokers suggested offshore investors, who tend to take stocks in the bigger-cap companies, had reduced exposure in the current uncertain environment.

Utilities, which offer solid cash flow and yield, fared better than most, with Contact Energy (NZSE: CEN.NZ - news) steady while Meridian Energy managed a fractional rise and Mighty River Power was marginally softer.

Only a handful of stocks managed to post gains, the biggest being Oceana Gold up 6.2 percent boosted by the flight to safety that lifted global gold prices. (Editing by Shri Navaratnam)