Europe shares set to rise after U.S. election

LONDON, Nov 5 (Reuters) - European shares were set to track Asian shares higher on Wednesday, bookmakers said, after Barack Obama's election as the U.S. president ended uncertainty about who will lead the world's biggest economy in the midst of a financial crisis. Financial bookmakers called Britain's FTSE 100 .FTSE up 37 to 45 points -- as much as 1 percent. Germany's DAX .GDAXI was seen up 59 to 90 points -- as much as 1.7 percent , and France's CAC was seen up 10 to 16 points -- as much as 0.4 percent.

In Asia, Japan's Nikkei .N225 rose 4.5 percent on Wednesday. Major U.S. stock indexes rose between about 3 and 4 percent in the biggest Election Day rally ever on Tuesday.

The new Obama administration, which takes office in January, will face the world's worst financial crisis since the Great Depression, and a potentially steep slowdown in the global economy that has pounded markets from Tokyo to Frankfurt to New York. (Reporting by Rebekah Curtis)