Metro highlights reach of eurozone woes Concern about the effect of the eurozone crisis on Germany's economy flared up again on Monday after retail group Metro said the crisis was hindering consumption in the eurozone's biggest economy. Speaking to German weekly Bild am Sonntag, Olaf Koch, chief executive of Metro, said slowing consumption would have a "significant impact" on its business. Shares in the world's fourth-largest retail group by sales, fell 6.3 per cent to €20.43. The group in May announced a net loss of €81m in the quarter to the end of March, compared with a net profit of €14m over the same period in 2011. Metro shares fell 7.5 per cent over three sessions last week after data revealed a contraction in Germany's service sector purchasing managers" index, a gauge of the business outlook. Elsewhere, traders sold out of Spain's two biggest banks Banco Santander and BBVA. Eurozone leaders will meet in Brussels on Monday to discuss conditions under which Spain will receive €100bn in loans to recapitalise its banking sector. Shares in BBVA fell 3.9 per cent to €4.98, while Banco Santander slid 3.9 per cent to €4.71. Spanish officials said the government was ready to establish a single "bad bank" to park distressed assets from its banking sector. In Madrid, the benchmark Ibex 35 index lost 1.8 per cent to 6,621.2. The broader FTSE Eurofirst 300 was down 0.4 per cent to 1,029.32 in morning trading. Telecom Italia topped the Europe-wide leaderboard, as shares climbed 3.5 per cent to €0.75, outperforming Italy's benchmark index. The FTSE MIB rallied 0.2 per cent to 13,705.64. EADS was given a boost on news that its Airbus unit and Boeing are pressuring suppliers to merge in order to strengthen their supply chain. This is crucial to both group's plans to bulk up production of passenger jets. Shares rose 1.6 per cent to €28.52 in morning trading. Meanwhile, the French CAC 40 index fell 0.4 per cent to 3,155.85. German airline Lufthansa received a fillip as analysts at Morgan Stanley raised their target to €15.70 from €14.30. Shares rose 1.5 per cent to €9.41. In Frankfurt the Xetra Dax index fell 0.1 per cent to 6,402.10