FRANKFURT (dpa-AFX) - Siemens Energy continued its recovery from a record low on Thursday. With a recent gain of 5.6 percent to 8.71 euros, they have now rallied 36 percent in just one week. A week ago, they had lost more than 35 percent in one fell swoop. Investors were irritated because the company had asked the German government for guarantees worth billions to secure the recent sharp rise in orders, especially in the power engineering business.

In addition, Siemens Energy continues to have problems in its wind power business. Most of the currently executed offshore wind power projects are not profitable, analyst Akash Gupta of JPMorgan now wrote in a commentary on the Orsted disappointment signals for the industry. To unwind some of them - with old contracts still from the time before the Ukraine war - is therefore not the worst thing.

Orsted had announced the abandonment of some wind power projects in the U.S. the previous day, after which the shares plunged by a quarter. On Thursday, they stabilized somewhat with a plus of three percent so far./ajx/ag/nas/stk