Major European indexes to rise 0.5-0.8 pct-bookies

LONDON Feb 8 (Reuters) - European shares are set to break a three-day losing streak on Monday, as U.S. stocks reversed earlier losses to end higher in the previous session.

Financial spreadbetters expected Britain's FTSE 100 .FTSE to open up 14 to 35 points, or as much as 0.7 percent, Germany's DAX .GDAXI to open 20 to 27 points higher, or as much as 0.5 percent, and France's CAC 40 .FCHI to rise 11 to 30 points in the open, or as much as 0.8 percent.

The FTSEurofirst 300 .FTEU3 index of leading European shares fell 2.1 percent on Friday to notch up its biggest weekly decline in 11 months on intensified worries about euro zone sovereign debt.

However, U.S. stocks erased a midday drop to end slightly higher on Friday, with the S&P 500 .SPX up 0.3 percent and the Nasdaq Composite .IXIC up 0.7 percent.

"The early direction in Europe seems likely to be defined simply by traders adjusting to that late rally in the U.S. before the weekend break," said Ben Potter, research analyst at IG Markets.

Over the weekend, European finance ministers tried to assure their counterparts in the Group of Seven that the euro zone's debt crisis is under control. They said they would make sure that Greece sticks with its budget cutting plans. [ID:nN06216480] (Reporting by Dominic Lau; Editing by Valerie Lee)