* Europe's central banks follow Fed in leaving policy
* Official Chinese data and euro zone PMIs point to growth
* Dollar up from six-week lows as euro dips
* European shares higher, oil near $109 a barrel
NEW YORK, Aug 1 Shares, the dollar and crude oil
all climbed on Thursday as central banks in the euro zone and
Britain joined the Federal Reserve in leaving in place policies
supportive of the tentative recovery in the global economy.
The European Central Bank and the Bank of England both ended
policy meetings by leaving rates at record lows, a day after the
Fed said the U.S. economy still needed its support and avoided
any mention of a change to its stimulus measures.
The promise of abundant liquidity came as data for July
revealed industrial activity picking up in the euro zone for the
first time in two years, greater stability in China's vast
factory sector and a surge in British production.
U.S. manufacturing grew in July at its quickest pace in four
months as output and new orders increased and firms took on more
workers, an industry report showed on Thursday..
A separate showed manufacturing growth was at its highest in two
"After a choppy and erratic session yesterday, failing to
break above 1,700 (on the S&P500 stock index), the market is
taking some positive China data along with leads from Europe to
put on an impressive early morning session," said Andre Bakhos,
director of market analytics at Lek Securities in New York.
The Dow Jones industrial average was up 140.26
points, or 0.90 percent, at 15,639.80. The Standard & Poor's 500
Index was up 17.70 points, or 1.05 percent, at 1,703.43.
The Nasdaq Composite Index was up 36.97 points, or 1.02
percent, at 3,663.34.
The better outlook encouraged investors back into riskier
assets, lifting MSCI's world equity index 1
percent, sparking a rally in major euro zone government bonds
and sending U.S. crude up 2.4 percent to $107.59 a barrel
The dollar index, which tracks the greenback's performance
against a basket of major currencies, gained 0.8 percent to
82.124, though still not far from a six-week low touched
on Wednesday after the Fed's policy announcement.