European indexes seen up 1.6-2.5 pct -bookmakers

LONDON, Nov 3 (Reuters) - European shares are set to rise for the fifth straight session on Monday, according to financial bookmakers, tracking gains in the Asian markets on optimism that measures by governments have calmed investors' nerves for now.

Financial bookmakers expected London's FTSE 100 .FTSE to open up 79 to 84 points, or as much as 1.9 percent, Frankfurt's DAX .GDAXI to open 95 to 123 points higher, or as much as 2.5 percent, and Paris's CAC-40 .FCHI to be up 48 to 57 points in the open, or as much as 1.6 percent.

The European Central Bank and the Bank of England are expected to cut interest rates this week, following last week's reductions from China, India, Japan and the United States.

The FTSEurofirst 300 .FTEU3 index of leading European shares closed 2.7 percent higher, the fourth day of gains. The index rose 11.9 percent over the week, but fell 12.7 percent in October, its worst fall since September 2002. (Reporting by Dominic Lau; editing by John Stonestreet)