* EU debt deal seen as imperfect but OK, mkt awaits details * Copper heads for biggest one-week increase since January 2009 * Coming up: U.S. consumer sentiment for October, 1355 GMT By Maytaal Angel LONDON, Oct 28 (Reuters) - Copper slipped on Friday after a sharp rise in the previous session, but optimism surrounding Europe's initiatives to tackle the region's debt crisis and expansion in the U.S. economy kept the red metal firmly on track for its biggest weekly gain in nearly three years. Three-month copper on the London Metal Exchange (LME) fell 0.86 percent to $8,075.25 a tonne at 1010 GMT, after rising to as high as $8,280 earlier in the session. Prices have gained about 13 percent this week, their largest increase since January 2009, after losing about a quarter of their value in the three months to September. "Today is the end of the week and Shanghai had a bit of a soft close but I think we could see copper prices push up further before the rally peters out. The European issue seems to have been kicked down the road to 2012. It's not perfect but what we are looking for is breathing room," said an analyst at a category one LME firm. Euro zone leaders struck a deal on Thursday to contain the region's economic crisis but are now under pressure to finalise the details of their plan to slash Greece's debt burden and strengthen their rescue fund. "This reinforces that the European leadership's taking the lead in addressing the financial problems seriously," said Warren Hogan, chief economist at the Australia and New Zealand Banking Group in Melbourne. "The market will now be able to stop fascinating about the problems in Europe, the risks posed by Europe, and look at the underlying fundamentals which aren't as bad as market prices suggested in recent times." Investors are betting on a recovery in demand for industrial metals and energy after the U.S. economy expanded at its fastest pace in a year in the third quarter. Gross domestic product in the world's largest economy grew at a 2.5 percent annual rate, up from 1.3 percent in the prior three months. "The U.S. data which was soft in August and September has been strong the entire month of October. The market, which was trading the possibility of a U.S. recession is having to price that out entirely," said the analyst. On China, which accounts for about 40 percent of the world's copper demand, he noted: "Chinese data is still reasonably solid. I struggle to see where the softening Chinese economy is, it's not in the data." SUPPLY ISSUES Copper prices were also underpinned by this week's declaration of force majeure on some concentrate sales from Freeport's strike-hit Grasberg mine in Indonesia -- the world's second-largest copper mine. Confirming improving demand for copper, inventories at warehouses monitored by the LME fell for a sixth consecutive day, by 2,300 tonnes to 432,375 tonnes, data showed. Copper stocks have fallen by about 8 percent this month. In the broader markets, global stocks, seen as a proxy for economic growth prospects, headed for their best week in over two years on Friday, while the euro held just below a seven-week high versus the dollar, making dollar-priced metals cheaper for investors holding the euro. Federal Reserve policymakers are set to meet next week to discuss ways to help boost the U.S. economy and lower the unemployment rate, a move that may propel markets further. In the meantime, markets are awaiting U.S. consumer sentiment data for October, to be released on Friday. Among other metals, zinc , used in galvanizing was at $1,976 a tonne from $1,945 at Thursday's close, while soldering metal tin was at $22,200 from $22,050. Helping underpin tin was news that smelters in top exporter Indonesia are likely to continue a stoppage of ingot supplies into November, as they try to push benchmark prices above $25,000 a tonne. Elsewhere, lead was at $2,051.50 from $2,039, aluminium at $2,262 from $2,255 and nickel at $19,995 from $19,900. Metal Prices at 1014 GMT Comex copper in cents/lb, LME prices in $/T and SHFE prices in yuan/T Metal Last Change Pct Move End 2009 Ytd Pct move COMEX Cu 365.80 -3.40 -0.92 334.65 9.31 LME Alum 2255.00 0.00 +0.00 2230.00 1.12 LME Cu 8145.00 465.00 +6.05 7375.00 10.44 LME Lead 2040.00 1.00 +0.05 2432.00 -16.12 LME Nickel 19895.00 -5.00 -0.03 18525.00 7.40 LME Tin 22050.00 0.00 +0.00 16950.00 30.09 LME Zinc 1944.00 -1.00 -0.05 2560.00 -24.06 SHFE Alu 16490.00 50.00 +0.30 17160.00 -3.90 SHFE Cu* 59250.00 1210.00 +2.08 59900.00 -1.09 SHFE Zin 15420.00 275.00 +1.82 21195.00 -27.25 ** Benchmark month for COMEX copper * 3rd contract month for SHFE AL, CU and ZN SHFE ZN began trading on 26/3/07

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