By Amruta Khandekar and Bansari Mayur Kamdar (Reuters) -European shares reversed early gains on Thursday, as hopes of easing inflation gave way to fears of aggressive monetary policy tightening in the world’s largest economy after better-than-expected U.S. economic data. The region-wide STOXX 600 index closed 1.0% lower after rising as much as 0.5% earlier in the day. European shares posted strong gains in the previous session as improving consumer sentiment in the eurozone eased some of the concerns about economic downturn. The festive mood quickly faded as Wall Street’s main indexes dropped …