Bookies now see European indexes down 0.5-1.4 pct

LONDON Oct 23 (Reuters) - Major European indexes are set to fall as much as 0.5-1.4 percent on Thursday, financial bookmakers said, revising their earlier call of much bigger falls after Japan's stocks pared losses and as U.S. index futures rose.

Financial bookmakers expected Britain's FTSE 100 .FTSE to open down as much as 0.5 percent, revised from an earlier prediction of a 1.6 percent fall, Germany's DAX .GDAXI to open as much as 1.4 percent lower, changed from an earlier prediction of a 2.3 percent decline, and France's CAC-40 .FCHI to be down as much as 0.7 percent, revised from an earlier prediction of a 1.8 percent fall.

Japan's Nikkei average .N225 pared losses, down 3.5 percent, while U.S. index futures DJc1 SPc1 NDc1 were up 1.2 to 1.4 percent. (Reporting by Dominic Lau; Editing by Erica Billingham)