* U.S., European stocks lifted by return of risk appetite
* Goldman Sachs (NYSE:GS) sees 27 pct Q1 profit rise, Netflix impresses
* China Q1 GDP up 6.8 pct, industrial output misses forecast
* Aluminium edges off 7-yr highs
* Graphic: World FX rates in 2018 http://tmsnrt.rs/2egbfVh
By Hilary Russ
NEW YORK, April 17 (Reuters) - U.S. and European shares climbed on Tuesday, lifted by data, corporate results and a return to riskier investments, while many Asian equity markets were weighed down by China amid mixed economic reports and lingering trade fears.
Strong U.S. earnings from Netflix NFLX.O , Goldman Sachs GS.N and healthcare companies boosted stock prices on Wall Street and optimism about what is expected to be the strongest earnings season in seven years. .N
Companies on the benchmark S&P 500 stock index are expected to report an 18.6 percent jump in first-quarter profit on average, according to Thomson Reuters data.
The Dow Jones Industrial Average .DJI rose 255.24 points, or 1.04 percent, to 24,828.28, the S&P 500 .SPX gained 28.48 points, or 1.06 percent, to 2,706.32 and the Nasdaq Composite .IXIC added 115.92 points, or 1.62 percent, to 7,272.20.
MSCI's gauge of stocks across the globe .MIWD00000PUS gained 0.74 percent.
European shares advanced .EU , with the pan-European FTSEurofirst 300 index .FTEU3 rising 0.91 percent and poised to close higher.
Germany's Deutsche Boerse (DE:DB1Gn) DAX index .GDAXI was last up 1.58 percent, despite fears of a trade war with the United States and the current tension in Syria pushing German investor morale to its lowest level in more than five years in April. (German data) has been a solid leading indicator in the past to a downturn," said Saxo Bank's head of FX strategy John Hardy.
In China, stocks in Shanghai .SS closed near a one-year low, after a U.S. move to ban American companies from selling components to Chinese telecom equipment maker ZTE Corp hurt tech stocks.
Beijing then said it would slap a hefty temporary tariff on U.S. sorghum imports, which sent grain futures prices jumping.
Also weighing on the region was data showing March industrial output in China missed expectations and first-quarter fixed-asset investment growth slowed. However, China's economy grew 6.8 percent in the first quarter of 2018 from a year earlier, unchanged from the previous quarter.
The country's March retail sales also jumped over 10 percent, the strongest pace in four months. broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS closed 0.36 percent lower, while Japan's Nikkei .N225 rose 0.06 percent.
The euro fell slightly after rising above $1.24 to a three-week high on the Chinese data, ebbing Syria retaliation fears and overall renewed risk sentiment.
"There's been a general weakness in the dollar and risk sentiment seems to be reviving somewhat. That is supporting the euro but also sterling and Asian currencies," said Alvin Tan, FX strategist at Societe Generale (PA:SOGN). FRX/ dollar index .DXY rose 0.19 percent, with the euro EUR= down 0.25 percent to $1.2347.
Sterling GBP= was last at $1.4304, down 0.22 percent on the day, after hitting nearly $1.438, its highest since British voters decided in June 2016 to exit the European Union.
U.S. sanctions on major Russian producer Rusal drove aluminium prices CMAL3 to almost $2,500 a tonne, their highest since mid 2011, before profit-taking reversed it all. MET/L Rusal accounts for 6-7 percent of global aluminium supply.
Oil prices steadied as investors took profit on last week's rally and amid concern over the potential for supply disruptions. O/R
U.S. crude CLcv1 fell 0.32 percent to $66.01 per barrel and Brent LCOcv1 was last at $71.20, down 0.31 percent on the day.
(Additional Reporting by Marc Jones and Tommy Wilkes in London, Sruthi Shankar in Bengaluru; Editing by Bernadette Baum)