* FTSEurofirst 300 at highest level since early Sept.
* Metro shares gain on positive outlook
* Deutsche Bank up on restructuring plan
By Atul Prakash
LONDON, Oct 19 (Reuters) - European shares climbed to a five-week high on Monday, helped by a rise in Deutsche Bank and retailer Metro AG, while expectations of stimulus measures offset some weak Chinese data.
The pan-European FTSEurofirst 300 index rose 0.4 percent to 1,441.17 points going into the middle of the trading session, marking its highest level since early September.
Deutsche Bank rose 3.7 percent, the top performer, as investors welcomed Chief Executive John Cryan's plan to restructure the German bank and cull managers in a move aimed at cutting costs and putting past scandals behind it.
"The fresh start as far as personnel is concerned has been done. Now the bank needs to deliver substance," said Ingo Speich from Union Investment, one of Deutsche's top 20 shareholders.
Metro rose 3 percent, after the retailer said it was optimistic for the Christmas trading period as like-for-like sales rose 1.3 percent in the final quarter of its fiscal year.
Shares in Germany's Wincor Nixdorf also surged 15.7 percent after U.S. automated teller machine maker Diebold agreed to buy it for 1.7 billion euros ($1.9 billion).
Mining stocks such as Anglo American and Glencore fell after data showed China's economic growth dipped below 7 percent for the first time since the global financial crisis, hurt partly by cooling investment.
China's factory output in September rose 5.7 percent from a year ago, against forecasts for a 6 percent increase. September retail spending bucked the cooling trend, growing at an annual rate of 10.9 percent and beating a 10.8 percent forecast.
Nevertheless, some analysts said the Chinese growth figures would still put pressure on Beijing to further cut interest rates and take other measures to stoke activity.
"Figures out of China are mixed. However, at this point in time, news that is not exceptionally bad or deteriorating is probably perceived as good," Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, said. "Markets are in a more optimistic mood as more stimulus out of China is expected."
Today's European research round-up
Additional reporting by Sudip Kar-Gupta; Editing by Catherine Evans and Mark Potter