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Aug 12 (Reuters) - European shares opened trade on a

positive note on Monday, as investors prepared for a deluge of

key economic data flowing in from both the United States and

Europe throughout the week.

As of 0715 GMT, the continent-wide STOXX 600 index

was up 0.4%.

Oil and gas stocks in the region gained nearly 1% as

oil prices rose for a fifth session after U.S. recession fears

eased while geopolitical tensions in the Middle East also

supported crude prices.

Financials were up nearly 1%, as Hannover Re

surged 6.2% after the German reinsurer reported its

first-half results.

The crucial event for the week will be the U.S. consumer

prices data, which will shape the direction for the global

monetary policy.

Employment data from the UK and Spain's inflation numbers

will also be on investors' radar later in the week. Euro zone's

flash employment, GDP and inflation production numbers are set

for release on Wednesday.

Among notable stock moves, shares of BT Group soared

6.6% after India's Bharti Enterprises agreed to buy around a

24.5% stake from the British telecommunication firm's top

shareholder, Altice UK.