UPDATE 1-European shares boosted to 5-year high by China growth figures
* FTSEurofirst 300 up 0.8 pct, highest close since June 2008
* Luxury goods, miners rise after China GDP
* Accor leads travel and leisure sector higher
LONDON, Oct 18 (Reuters) - European shares rose to a five-year high on Friday after robust growth data from China boosted luxury goods and mining stocks, while good results from Accor helped raise the travel and leisure sector.
The Chinese economy grew 7.8 percent year-on-year in the third quarter as forecast by analysts, although authorities warned of slowing momentum in the fourth quarter.
The personal and household goods sector - which includes luxury goods firms such as Burberry and LVMH , both under pressure recently after warning of slowing sales in China - was a top gainer, up 1.9 percent.
Miners, sensitive to demand levels from China's manufacturing sector, rose 0.5 percent but remain under longer-term pressure from earnings concerns highlighted by a weak update for Anglo American.
"China has had a bit of a rebound... and the rest of the emerging market space hasn't rebounded like China, so it's not surprising we're seeing a bounce on that," said Robert Quinn, chief European equity strategist at Standard & Poor's Capital IQ.
The Stoxx Europe 600 index was up for a seventh successive day, its longest winning streak this year, boosted by China but also by hopes that recent political turmoil may mean the United States keeps monetary policy easy for longer.
"We are quite positive because (the U.S. budget standoff) is just postponing the end of quantitative easing (which has been among the main drivers of equities over the past 2 years)," said Claudia Panseri, global equity strategist at Societe Generale Private Banking.
Many investors believe the extended government shutdown and political wrangling over the budget and debt in the United States will prompt the Federal Reserve to keep stimulus for the economy in place and help equities markets.
"I am expecting a good run to the end of the year now, especially with the risk from U.S. debt and government shutdown out of the way until January 2014," said Ed Woolfitt, trader at Galvan.
The pan-European FTSEurofirst 300 closed up 0.8 percent at 1,277.70, at its highest point since June 2008.
Joining the household goods sector among top gainers was the travel and leisure sector, also up 2 percent, led higher by a 4 percent rise in Accor after the French hotel chain delivered better-than-expected sales and a confident outlook.
Strong earnings also lifted Swedish hygiene and paper products maker SCA to the top of the list of European risers, gaining 6.9 percent.
- Former WWE champ nabs suspected burglar in Arizona
- First Ebola victim in Sierra Leone capital on the run
- Thousands take to N.Y. streets to protest Israeli offensive in Gaza
- U.S. fighter jets escort Canadian plane home over passenger threat
- Apple iPhones allow extraction of deep personal data, researcher finds