* FTSEurofirst 300 rises 2.2 percent; hits 1-year high
* Weak dollar boosts oil, metals prices
* Banks extend gains after JP Morgan
* BASF up on upbeat outlook
* Intel, ASML boost tech stocks * For up-to-the-minute market news, click on
By Brian Gorman
LONDON, Oct 14 (Reuters) - European shares rallied to a one-year high on Wednesday, as a weaker dollar boosted commodities prices and as earnings from Intel, BASF and JP Morgan further reassured investors.
At 1115 GMT, the FTSEurofirst 300 index of top European shares was up 2.1 percent at 1,016.16 points, and had risen as high as 1,017.75, the highest since Oct. 7, 2008.
The European benchmark index is up more than 57 percent from its lifetime low of March 9, as investors have become more confident on the prospects of economic recovery.
"It seems the earnings side will come out quite good," said Gerhard Schwarz, head of global equity strategy at UniCredit, in Munich. "It's our view earnings will continue to beat expectations. We will see further underpinning of equity markets."
U.S. banking giant JP Morgan Chase helped the index extend gains, after its results beat forecasts, reporting a net third quarter income of $3.6 billion, or $0.82 per share.
MSCI's all-country world index also hit its highest in a year.
Sentiment in Asia and beyond was also boosted by strong trade data from China and talk that the country will release stronger-than-expected GDP data next week.
The dollar hit a 14-month low versus the euro and a currency basket on Wednesday on the view that U.S. interest rates will stay low
This boosted commodities prices, and the shares of their producers. Crude oil surged to a 2009 high above $75 a barrel, while gold hit yet another record high, above $1,069 an ounce.
BP, Royal Dutch Shell, BG Group, Repsol, Total and StatoilHydro rose between 2.3 and 2.9 percent.
Global miner Rio Tinto was up 5.5 percent as it raised its production guidance for iron ore this year by 5 to 7.5 percent to 210 million to 215 million tonnes, after reporting a 12 percent jump in third-quarter output.
Other mining stocks that rose included BHP Billiton, Anglo American, Antofagasta and Xstrata rose between 3.4 and 5.3 percent.
Chemicals giant BASF rose 6.6 percent after the company in an unscheduled indication of results said its third-quarter operating earnings dropped 20 percent, better than expected by analysts.
Across Europe, Britain's FTSE 100 index, Germany's DAX and France's CAC 40 rose between 1.7 and 1.9 percent.
FINANCIALS GAIN
Financial shares gained, with the DJ Stoxx banking index rising 2.5 percent. The sector has surged more than 170 percent since hitting a low in early March.
Banco Santander, Barclays, Credit Suisse, HSBC, Lloyds, Societe Generale and UBS gained 2.3-3.8 percent.
Diageo, the world's biggest spirits group, fell 2.8 percent after underlying sales fell 6 percent in the first quarter. French peer Pernod Ricard was 3.8 percent lower following the numbers. Exane analysts downgraded Pernod to "underperform" from "neutral".
After the closing bell on Wall Street on Tuesday, Intel posted a quarterly outlook and results that were better than expected, while Dutch chip equipment maker ASML swung to a third-quarter net profit of 20 million euros ($30 million) as orders picked up after nine months of falls.
Tech shares were in demand, with DJ STOXX technology index rising 1.9 percent. ASML shares rose 1.5 percent, while Infineon , Nokia, STMicroelectronics and ARM climbed 2.3 to 4.2 percent.
September U.S. retail sales data were due at 1230 GMT. Economists in a Reuters survey forecast a 2.1 percent fall, compared with a 2.7 percent rise in August.
Futures for the Dow Jones, S&P 500 and Nasdaq were up between 1.1 and 1.3 percent.
Euro zone industrial output accelerated month-on-month in August and July production was revised upwards, data showed, providing evidence the area's economy is likely to have started growing in the third quarter.
(Additional reporting by Atul Prakash; Editing by Hans Peters)