* FTSE 100 seen at 5,950 mid-2011; 6,300 end-2011
* Concerns persist over euro zone debt problems
By David Brett and Simon Falush
LONDON, Dec 8 (Reuters) - Britain's FTSE 100 is seen gaining more than 8 percent by the end of 2011, with equity investors shrugging off economic gloom, a Reuters Poll found.
The median forecast of 19 equity strategists indicated the FTSE 100 would rise to 5,950 by mid-2011, up 2.4 percent from its close on Tuesday of 5,808.45, and up 8.5 percent by the end of the year.
The median estimate was almost unchanged from a September poll for mid-2011. Forecasts for this period ranged from 5,000 to 6,500, highlighting the uncertainty on whether European debt problems and a vulnerable economy could hit equities.
"Euro (zone) stability is key to index performance over the coming months," Martin Dobson, director at Westhouse Securities, said.
"With the U.S. more than likely to supply more quantitative easing, the focus is on whether further bailouts will be required among the euro zone members."
The FTSE peaked in 2010 at 5,902.11 on Nov. 9, but quickly fell away as Ireland became the latest euro zone nation to become embroiled in a sovereign debt crisis.
Out of 12 common contributors, eight upgraded their mid-2011 targets, while four downgraded theirs from the last poll in September.
The biggest upgrade was by 750 points, and the biggest downgrade was by 900 points.
Forecasters in the same poll taken a year ago called the FTSE's 2010 performance about right -- they said it would rise just over 7 percent, compared with actual gains of 7.31 percent so far this year.
IRELAND WATCHED
The Irish government detailed the toughest budget on record on Tuesday, targeting 6 billion euros ($7.93 billion) in spending cuts and tax hikes, and warned its passage was crucial to avert a deeper crisis and free up EU and IMF rescue funds.
However, concerns linger that the debt crisis could spread from Greece and Ireland to Portugal and possibly Spain, an outcome which would provoke another sharp sell-off in equities.
The FTSE 100 has gained around 7 percent in 2010, is 21 percent higher since hitting its 2010 low on July 1, and is forecast to reach 6,300 by the end of 2011 as investors focus on the ability of companies to grow profits, albeit in a low growth landscape.
"Despite concern over the housing market and unemployment, companies are now 'mean and lean'," said David Buik, senior partner at BGC Capital, predicting the FTSE 100 will hit 6,000 by mid-2011 and end 2011 at 6,400.
"In the same breath they are on the whole very profitable and many are paying appetising dividends. Equities look good value going into 2011."
According to Thomson Reuters StarMine data, 60 percent of companies globally beat or met expectations in the third quarter.
Strategists said worries remain over growth in Britain, with austerity measures including job cuts and a rise in value added tax set to test businesses' resolve in the new year.
But Britain's blue-chip index is relatively unaffected by the domestic economy as about 60 percent of FTSE 100 companies' revenues come from sales outside the UK according to a Reuters analysis of those FTSE 100 companies that break out the figures.
The UK blue chip index carried a 12-month forward price-to-earnings of 9.8 times, Thomson Reuters Datastream showed. ($1=.7566 Euro) (Polling by the Bangalore Polling Unit; Analysis by Yati Himatsingka; Editing by Jon Loades-Carter)