* FTSEurofirst 300 index ends up 1.4 pct, 2-wk closing high
* Oils rise as Brent tops $101; dollar weakens
* Infineon, ARM Holdings give techs a boost
By Brian Gorman
LONDON, Feb 1 (Reuters) - Strong manufacturing data from the euro zone and U.S. on Tuesday powered European shares to their biggest gains in nearly three weeks, with oil stocks further boosted by rising crude prices.
The pan-European FTSEurofirst 300 index rose 1.4 percent to a two-week closing high of 1,159.80 points.
Heavyweight energy shares gained as Brent crude rose well above $101 a barrel, helped by a weaker dollar which fell to a 12-week low against a basket of currencies.
Total and ENI rose 3.2 percent and 4.1 percent respectively. Statoil surged 6.3 percent as optimism on its upcoming quarterly results outweighed news of more troubles at its Gullfaks field in the North Sea.
BP rose 1.3 percent despite reporting a loss and a UK court blocking its plans for a tie-up with Russia's Rosneft.
Worries about unrest in Egypt spreading to neighbouring major oil-producing countries have been a factor in forcing up crude prices, but some analysts have played down this risk.
"There is limited contagion risk from Egypt," Bob Parker, senior adviser at Credit Suisse, said. "If we did see a spike in oil prices, Saudi Arabia would increase production very quickly."
"And there's been strong economic data -- note the ISM number out of the United States."
The U.S. manufacturing sector grew at its fastest pace in nearly seven years in January, and signs of inflation jumped more than expected, a further signal the economic recovery is gaining traction.
MOMENTUM
Manufacturing activity in the euro zone accelerated more than previously thought in January, indicating the sector is regaining momentum across most of the region, with the notable exception of Greece, a survey showed.
Parker also pointed to "strong corporate earnings numbers". Among banks to gain were Spain's BBVA and Banco Santander, up 3.8 and 2 percent respectively, ahead of results on Wednesday and Thursday.
"Our view is that Europe will muddle through the crisis," said Parker, also noting the reduced spread between Spanish and German bonds.
Across Europe, Britain's FTSE 100, Germany's DAX and France's CAC40 rose between 1.6 and 1.7 percent.
Wall Street was higher around the time European bourses were closing. The Dow Jones, S&P 500 and Nasdaq Composite were up between 0.7 and 1.4 percent, with drugmaker Pfizer up more than 5 percent after results.
TOP TECHS
Technology stocks featured among the top performers, with enterprise search software maker Autonomy jumping 6.3 percent after sales came in slightly above expectations.
German chipmaker Infineon gained 1.7 percent after it raised its full-year outlook, while British chip designer ARM whose architecture is licensed to Infineon, rose 6.1 percent after forecast-beating fourth-quarter profits. Miners gained for the second session as confidence improved about the global recovery and the outlook for metals.
Sentiment in the sector was boosted after HSBC's China Purchasing Managers Index reported a rise in January, showing solid growth in the country's vast manufacturing sector.
The STOXX Europe 600 Basic Resources gained 2.2 percent, with Antofagasta, Fresnillo and Kazakhmys up between 4.7 and 6.8 percent.
On the downside, bearings maker SKF, a bellwether for manufacturing, fell 7.9 percent after saying it faced headwinds due to currency rates and higher raw material costs.
Analysts said the FTSEurofirst 300 index could be due for a correction after two straight months of gains. "A correction of 5 to 8 percent can actually be quite healthy for a bull market," Joshua Raymond, market strategist at City Index, said.
(Additional reporting by Harpreet Bhal; Editing by David Hulmes)