Shares in Siemens Energy soared Monday on news reports that the energy technology giant is slated to announce a deal on state aid in the form of guarantees when presenting quarterly results on Wednesday.

Siemens Energy shares rose 5.43% to €9.90 in mid-afternoon electronic trading at the Frankfurt stock exchange.

The parent of troubled wind turbine manufacturer Siemens Gamesa will receive €15bn ($16bn) in guarantees to back up large orders, Germany's Handelsblatt newspaper said, citing financial sources.