TSCDY Tesco PLC (PK)

Global stocks extended gains Wednesday, spurred by upbeat Chinese trade data and a recent bounce in commodities prices.

Chinese exports expanded in March for the first time in nine months, data showed Wednesday, helping soothe concerns about the world's second-largest economy and lift the price of industrial metals.

The Stoxx Europe 600 was up 1.3% in early trade, led by banks and mining companies, following an energy-driven rally in Asia and on Wall Street. The moves came even as oil prices pulled back early Wednesday. Brent crude oil fell 1.8% to $43.88 a barrel, but remained up over 4.5% this week ahead of a closely watched meeting of producers in Doha on Sunday.

In corporate news, shares in Tesco PLC fell 4% after the British supermarket chain reported a small rise in adjusted profit but struck a cautious tone on future profitability.

Shares in Hong Kong, Shanghai, and Australia all ended higher, while stocks in Japan soared 2.8% as the yen continued to weaken against the dollar, lifting shares of exporters. The dollar was last up 0.2% against the yen at ¥ 108.8450, while the euro was down 0.3% against the dollar at $1.1348.

Write to Riva Gold at riva.gold@wsj.com

(END) Dow Jones Newswires

April 13, 2016 04:05 ET (08:05 GMT)

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