By Claudia Carpenter June 9 (Bloomberg) -- U.S. stock-index futures fell and the euro weakened after the International Monetary Fund said risks to the economic outlook have “risen significantly.” Copper rose and European stocks fluctuated. Futures on the Standard & Poor’s 500 Index slipped 0.4 percent at 10:46 a.m. in London, while copper climbed 1.1 percent and oil added 0.6 percent. The euro dropped 0.1 percent to $1.1964 and German 10-year bunds ended five days of gains after a 4.6 billion-euro ($5.5 billion) debt sale. The Stoxx Europe 600 Index climbed 0.1 percent after three days of losses and the cost of insuring against a default on corporate bonds rose for a third day. “The market is starting to anticipate that future earnings will not be as good as previously thought,” said Lex van Dam, a fund manager at London-based Hampstead Capital, which oversees $500 million. “Taxes are going up globally, which will curb demand.” Most advanced economies are experiencing a “subdued” recovery, IMF Deputy Managing Director Naoyuki Shinohara said, while a survey of Bloomberg customers showed 73 percent of participants expect Greece to default on its debt. Metals rose after Reuters reported China’s exports grew about 50 percent in May from a year earlier, citing three unidentified people who said a government official unveiled the figures at an investor conference today. Germany’s benchmark 10-year bund yield rose 1 basis point to 2.53 percent. Germany, Portugal, the U.K. and the U.S. are selling bonds today to help fund burgeoning budget deficits. Credit-Default Swaps Credit-default swaps on the Markit iTraxx Crossover Index of 50 companies with mostly high-yield credit ratings climbed 10 basis points to 638.5, according to JPMorgan Chase & Co. The index is a benchmark for the cost of protecting bonds against default and an increase signals a deterioration in perceptions of credit quality. China’s Shanghai Composite Index climbed 2.8 percent, the most in more than two weeks. The Federal Reserve will release its Beige Book, a summary of commentary on economic conditions, later today. A report from the Commerce Department set for 10 a.m. in Washington may show inventories at U.S. wholesalers rose for a fourth month in April. To contact the reporter for this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net

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