European shares seen up 0.7-1.2 pct -bookmakers

LONDON, Oct 1 (Reuters) - European shares are set to open higher on Wednesday, according to financial bookmakers, as U.S. and Asian stocks gained on hopes that Washington would revive a plan to stablise the U.S. financial sector.

Financial bookmakers expected Britain's commodity-heavy FTSE 100 .FTSE to open up 50 to 58 points, or as much as 1.2 percent, as crude prices CLc1 traded above $101 a barrel and metal prices firmed.

Germany's DAX .GDAXI was expected to open 24 to 40 points higher, or as much as 0.7 percent, and France's CAC-40 .FCHI was set to be 18 to 29 points higher in the open, or as much as 0.7 percent.

The FTSEurofirst 300 index .FTEU3 of top European companies closed up 1.6 percent on Tuesday. But it had lost 11 percent last month, making it the second-worst month of the year after January. (Reporting by Dominic Lau; Editing by Clarence Fernandez)