Global shares mixed as China exports rise, outlook uncertain

TOKYO (AP) — European shares have opened higher after China reported its exports rose 3.5% in April from a year earlier as its factories and supply chains revived after pandemic shutdowns.

France’s CAC 40 gained 0.4% in early trading to 4,452.93. Germany’s DAX added 0.6% to 4,452.93. Britain’s FTSE 100 rose 0.5% to 5,880.53.

U.S. shares were set for gains, with Dow futures advancing 1.1% to 23,767. The future for the S&P 500 picked up 1.2%, to 2,868.62.

The Chinese trade data showed an encouraging rise in exports driven by electronics shipments and textiles, which included a surge in mask exports, Betty Wang of ANZ said in a report.

The data released Thursday show China’s exports to the United States rose 2.2% in April, while imports of American goods fell 11% in a reflection of weak Chinese industrial and consumer demand despite the lifting of most anti-virus controls.

Imports fell 13.7% from a year earlier to $179.6 billion, worse than the first quarter’s 2.9% decline. But total exports rose to $200.3 billion, a turnaround from the 13.3% contraction in the three months ending in March.

But forecasters warned that strength is unlikely to last as the coronavirus pandemic depresses global consumer demand.

Comments by President Donald Trump raising the possibility of further trade friction with Beijing have worried investors hoping for better times as other economies begin to reopen from pandemic shutdowns.

Trump said he would soon assess progress in a preliminary trade agreement with China that took effect in January, extending a truce in a painful tariffs war between the world’s two biggest economies.

The possibility of revived friction over trade at a time when economies have been slammed by the pandemic and resulting travel restrictions has...