Siemens Energy has not proposed a dividend for the 2024 fiscal year, citing limitations to its payout policy as a result of obtaining project guarantees last year that are backed by the German government.

Siemens Energy AG’s shares surged the most on record after the company lifted its midterm targets, citing growing demand for its grid technologies that offset losses at its beleaguered wind-turbine division.

Frankfurt’s Dax shed 0.2 per cent, lifted by Siemens Energy which rose 15 per cent after it raised its midterm outlook. The UK’s health secretary has set out plans to introduce league tables for the trusts that manage the country’s hospitals,