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European Shares Set to Rise on US Rate Cut Hopes

European shares are set to open higher on Tuesday, tracking gains in the United States and Asia as weak housing data cemented hopes for a further cut in U.S. interest rates.

Bookmakers expected the UK's FTSE 100 to open up 34 to 40 points, Germany's DAX up 52 to 68 points and France's CAC up 49 to 59 points, making for gains of 0.7 to 1.1 percent.