European stock index scores best winning streak in two decades

* STOXX up 0.4 pct and Euro STOXX 50 up 0.8 pct

* Miners lead gainers as copper jumps

* Just Eat (Frankfurt: A1100K - news) down on Uber competition threat (Adds details and closing prices)

By Danilo Masoni and Julien Ponthus

LONDON, Sept 21 (Reuters) - Easing fears of a trade war further lifted European shares on Friday, with trade-sensitive sectors like miners and autos leading the advance.

The pan-European STOXX 600 rose 0.4 percent, while the Euro STOXX 50 ended up 0.8 percent. Both have had 10 straight sessions of gains.

The last time the STOXX 600 performed so strongly was in September last year, but for the Euro STOXX 50 it was the longest winning streak since 1997.

Markets shrugged off the escalation of the trade war between the U.S. and China, focusing on the fact that tariffs announced this week were lower than expected and on hopes of a compromise.

Inexpensive valuations also fuelled demand for European shares, which have been underperforming their U.S. peers recently on worries the region's export-oriented economy could be hit harder by a trade war.

Deutsche Bank (IOB: 0H7D.IL - news) on Friday confirmed its overweight rating on European value stocks, mentioning among their buy-rated picks financials Allianz (Swiss: ALV-EUR.SW - news) and BNP Paribas (LSE: 0HB5.L - news) , carmaker Daimler (IOB: 0NXX.IL - news) and miner Glencore (Frankfurt: 8GC.F - news) .

Data showing euro zone business growth easing again in September - yet another sign that momentum in the currency bloc has passed its peak - had little impact on trading.

Miners rose 1.3 percent, leading sectoral gainers on Friday, after copper rallied as investors calculated that the U.S.-China trade dispute could cause less damage than feared.

Autos rose 1.9 percent at one point before succumbing to some profit-taking to end up 0.3 percent.

Strategists at Kepler upgraded autos to neutral this week, adding to signs that broker sentiment towards the under-owned and underperforming sector was improving.

Elsewhere, Just Eat lost 4.8 percent after a report said Uber was in early talks to buy Deliveroo, potentially giving it a major rival in the food delivery business.

"The combination of two competitors is the last thing Just Eat wants to hear, particularly when it is already trying to play catch-up on the delivery side of its business," commented Russ Mould, investment director at AJ Bell.

Shares (Berlin: DI6.BE - news) in British industrial technology firm Smiths fell 4.4 percent after its full-year profit missed analysts' estimates.

Belgium's Nyrstar (LSE: 0RH8.L - news) tumbled over 30 percent after it issued a profit warning, saying revenues would be hurt by adverse market conditions.

German retailer Metro (Dusseldorf: 62M.DU - news) jumped 2.3 percent as Czech investor Daniel Kretinsky is buying more shares in the company, stoking speculation of a full bid. (Reporting by Julien Ponthus; Editing by David Stamp and Andrew Roche)