Mitchell favourite to land Booker literary prize

LONDON, Aug 15 (Reuters) British author David Mitchell was installed as 5-1 favourite on Monday to win the Booker prize, one of the literary world's most prestigious awards.

The author of ''Black Swan Green,'' a critically acclaimed rites of passage novel about a 13-year-old boy, headed a longlist of 19 novels for the hotly contested prize.

''Top of the Booker Pops is David Mitchell. He thoroughly deserves to win it after being robbed with 'Cloud Atlas' two years ago by Alan Hollinghurst's 'Line of Beauty','' said Graham Sharpe, spokesman for bookmakers William Hill,yesterday.

Second favourite for this year's prize is Australian author Peter Carey, who won the Booker in 1988 and 2001. He is being considered for his latest novel ''Theft:A Love Story.'' ''The first lady in our list is Sarah Waters at 7-1. Barry Unsworth, who is also a former winner, is 8-1,'' Sharpe told Reuters.

Chair of the judges Hermione Lee said: ''It's a list in which famous established novelists rub shoulders with little known newcomers. We hope that people will leap at it for their late summer reading and make up their own shortlist.'' The prize, founded in 1969, rewards the best book of the year from British, Irish and Commonwealth writers and guarantees the winner instant literary fame and a place in bestseller lists around the world.

The shortlist for the prize, sponsored by the futures brokers Man Group plc, is published on September. 14 and the winner announced on Oct. 10.

REUTERS MS RK0906