GLOBAL MARKETS-World stocks rise on China data; euro steady

* Strong Chinese trade data pushes global stocks higher

* Euro little changed amid reports of new Greek aid

* Oil reverses course as rebound resumes
(Adds details, updates prices)

By Leah Schnurr

NEW YORK, May 10 (Reuters) - Stocks rose on Tuesday as
unexpectedly strong Chinese trade data reinforced optimism
about the global economy, while oil prices traded higher as
investors resumed a reversal from last week's abrupt slide.

The euro was little changed as conflicting reports emerged
of a potential new aid deal for debt-laden Greece.

China posted a hefty trade surplus in April, nearly four
times greater than expected, as exports hit a record and
imports eased more than anticipated. The data illustrated the
strength of China's economy even after its efforts to rein in
inflation. For details, see [ID:nL3E7GA09F]

Optimism about the pace of economic recovery lifted
European and U.S. equities. World stocks as measured by the
MSCI stock index .MIWD00000PUS were up 0.7 percent.

"China's export numbers were very good," said Burt White,
chief investment officer at LPL Financial in Boston. "That gave
a shot in the arm to this market."

The FTSEurofirst 300 .FTEU3 index of top European shares
provisionally ended up 0.8 percent. Bank shares notched sharp
gains on optimism that they are not set to suffer an imminent
writedown on their Greek debt holdings. Mining shares rose on
the Chinese trade data.

In New York, the Dow Jones industrial average .DJI added
42.12 points, or 0.33 percent, to 12,726.80. The Standard &
Poor's 500 Index .SPX rose 5.70 points, or 0.42 percent, to
1,351.99. The Nasdaq Composite Index .IXIC gained 13.62
points, or 0.48 percent, to 2,856.87.

But even as the Chinese data helped ease fears about a
global slowdown, the utilities sector led gainers on the S&P
500 as investors took more defensive positions on the view that
although the recovery was still in place, it is not
accelerating as quickly as anticipated.

U.S. data showed import prices rose at a slower pace in
April as petroleum and food cost increases moderated, while a
jump in wholesale inventories during March suggested a weak
first quarter ended on a firmer note. [ID:nN1044569]

The ease in prices underscored the Federal Reserve's
general view that the impact of higher food and commodity
prices will prove to be temporary.

OIL CHOPPY

Crude oil prices reversed earlier losses to trade higher in
a rebound from last week's heavy sell-off. Oil fell earlier in
the day after CME Group Inc, the world's largest commodities
exchange, raised the margin call on crude futures for a fourth
time since February in an effort to curb volatility.

"Having high margin requirements makes it more difficult
for speculative traders to enter the market, so naturally that
will cause less speculative activity in oil markets," said Ben
Westmore, commodity economist at National Australia Bank.

Brent crude LCOc1 jumped $1.11 cents to $117.19,
recovering from a low of $113.58 earlier in the session. U.S.
crude CLc1 added 99 cents to $103.54 a barrel.

Oil prices have had a volatile week of trading, falling
from over $114 a barrel -- the highest level since 2008 -- to
$94 a barrel.

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

For a graphic on U.S. data, click
r.reuters.com/vet49r

Euro zone crisis graphics, click
r.reuters.com/hyb65p

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

The euro EUR= steadied after falling sharply in recent
days and was last at $1.4355, with the session peak at $1.4395
and the low at $1.4267.

"The euro continues to struggle amid a backdrop of renewed
debt problems in the bloc's periphery," said Omer Esiner, chief
market analyst at Commonwealth Foreign Exchange, Inc in
Washington.

Greece denied reports it was discussing a new 60 billion
euro bailout with international lenders, and its borrowing
costs rose amid fears it may have to restructure its debt
without further EU help. [ID:nLDE7491FC]

Doubts were raised by a German lawmaker whether Greece had
met the conditions for getting the next tranche of aid under
its existing deal but a source close to EU and IMF inspectors
in Athens said it was too early for a decision.

Comments from German Chancellor Angela Merkel -- Europe's
reluctant paymaster -- on new aid for Greece were guarded.
Merkel said she could only discuss further aid for Greece after
EU and IMF officials report on implementation of its existing
rescue plan. But she did not rule out additional funding for
Athens or a possible fresh easing of terms on its bailout.
[ID:nLDE7490UN]

Since last Wednesday the euro has fallen from a 15-month
high of $1.4939 to a seven-week low around $1.4254 on renewed
fears of a Greek debt default.
(Additional reporting by Rodrigo Campos and Nick Olivari in
New York, and Jessica Donati and Emelia Sithole-Matarise in
London; Editing by Leslie Adler)