FRANKFURT (Reuters) – Shares in Siemens Energy soared in early trade on Monday, extending their recovery as close talks with Berlin over around 15 billion euros ($15.8 billion) in project-related guarantees continued over the weekend.
Shares in the maker of equipment for the power industry were up around 10% at 0815 GMT, while Siemens, which owns a 25.1% stake, was up 1%.
The recovery comes after Siemens Energy last week said it was in talks with the government over performance guarantees needed to safeguard projects – comments that sent the group’s stock to a record low.
($1 = 0.9479 euros)
(Reporting by Christoph Steitz; editing by Matthias Williams and Rachel More)
