European shares gain ahead of US inflation data, ECB policy meet

European shares rose on Monday as investors looked forward to a crucial U.S. inflation reading as well as a monetary policy decision from the European Central Bank (ECB) later in the week for more cues on the direction of global interest rates.

The pan-European STOXX 600 gained 0.6% as of 0712 GMT after having shed nearly 1% last week amid worries about higher-for-long U.S. interest rates. Investor focus is now on U.S. consumer prices data for August, that is due on Wednesday and the outcome of the ECB's policy meeting on Thursday.

Miners were the top gainers on Monday, up 2.2% as prices of metals rose on prospects of better demand from top consumer China. Among individual stocks, Covestro climbed 3.1% after the German chemicals firm said late on Friday it has entered into open-ended discussions with suitor Abu Dhabi National Oil Company (ADNOC) over a takeover approach.