European shares muted ahead of key U.S. inflation data

European shares were muted on Monday as investors cautiously awaited key U.S. inflation data due later in the week for more cues on the Federal Reserve's monetary policy path, although healthcare and energy stocks posted upbeat performances. The pan-European STOXX 600 index held its ground at 465.44 points, as of 0707 am GMT, following declines last week when major central banks raised interest rates while fears about the U.S. banking sector flared up again.

European shares were muted on Monday as investors cautiously awaited key U.S. inflation data due later in the week for more cues on the Federal Reserve's monetary policy path, although healthcare and energy stocks posted upbeat performances.

The pan-European STOXX 600 index held its ground at 465.44 points, as of 0707 am GMT, following declines last week when major central banks raised interest rates while fears about the U.S. banking sector flared up again. Drugmaker Novo Nordisk was a big mover in the index with a 2.3% climb, and energy shares, which were among top decliners last week, edged 0.6% higher.

Stock markets in London are closed for a holiday following the coronation of King Charles on Saturday. Shares of Rational fell 2% after Baader Helvea cut the German industrial kitchen equipment maker's rating to "reduce" from "add."