European shares rise more than 1%

European shares closed higher today after Shanghai achieved three consecutive days with no new cases of Covid-19 virus outside the quarantine areas, which may lead to the start of lifting restrictions. The STOXX 600 (.STOXX) rose 1.2% with the mining sector up 3.2%, and the STOXX 600 was close to a one-year low in March amid growth concerns in China and Russia's war with Ukraine.

Shares of French energy company ENGIE.PA rose 5.3% after it posted higher profits in the first quarter and raised its forecast for 2022, and shares of power generation company ContourGlobal (GLO.L) rose 32.9%.