LONDON, April 16 Reuters Copper was on track for its biggest weekly rise in two months on Friday after solid U.S. and Chinese economic data pushed global stock markets to near record highs and several investment banks predicted higher prices for the metal.

However the numbers from China, the biggest consumer of metals, were a mixed bag, with factory activity growing strongly but below forecasts and expected to slow.

Benchmark copper on the London Metal Exchange LME was up 0.4 at 9,320.50 a tonne at 1218 GMT, up around 4 this week and near Februarys peak of 9,617, the highest since 2011.

The Chinese data are only really good at first glance … momentum has cooled to some extent, Commerzbank analyst Daniel Briesemann said.

Optimism on stock markets was supporting metals, and strong demand during the second quarter Chinas traditional construction season could lift copper further in the short term, but prices would fall later in the year, he said.

CHINA Chinas economy grew by a record 18.3 yearonyear in the first quarter, but the expansion is expected to moderate later this year. Industrial output slowed in March to 14.1.

U.S Brightening U.S. economic prospects were underscored on Thursday by data including retail sales, which rose by the most in 10 months in March.

BULLISH Goldman Sachs this week raised its 12month target for copper to 11,000 a tonne, while Citi recommended clients take on bullish copper exposure over the next few weeks.

MARKETS Global equities…