Frankfurt, Feb 7, 2026, 22:24 CET — Market closed
- Siemens finished the session up 2.45%, closing at 250.50 euros on Friday.
- Siemens Mobility and Stadler have secured a framework contract for Copenhagen’s S-train network, landing a deal worth roughly €3 billion.
- Up next: Siemens reports first-quarter earnings and holds its AGM on Feb. 12.
Siemens AG ended Friday’s session 2.45% higher at 250.50 euros, snapping up gains by week’s end. News broke earlier that Siemens Mobility, together with Stadler Rail, landed a Copenhagen suburban train contract worth about 3 billion euros. 1
Here’s why this matters now: investors have been favoring Europe’s industrial stocks, pulling back from the swings in U.S. tech. European equity funds saw almost $14 billion flow in last week, according to LSEG Lipper, with industrial sector funds leading the way. “Risks are higher and outcomes less predictable,” said Mark Haefele, CIO at UBS Global Wealth Management, stressing that diversification is “especially important.” 2
Choppy action across the board. Europe’s STOXX 600 tacked on 0.9% Friday, closing the week with a roughly 1% gain. Tech and media names continued to trail following the week’s sharp AI-driven rout. “They are seeing a dislocation between software and hardware,” said Sophie Huynh, portfolio manager and strategist at BNP Paribas Asset Management, noting that uncertainty is leaking out of the sector. 3
Siemens says Danish State Railways (DSB) has inked a framework deal with Siemens Mobility and Stadler covering 226 four-car trainsets, plus an option for as many as 100 more. Built for top-level automated train operation—GoA4, which means no drivers onboard—the new fleet marks a big leap. “We’re not just delivering trains, but intelligent mobility solutions,” Siemens Mobility CEO Michael Peter said. 4
The deal includes long-term service and maintenance, aiming for expanded capacity on Copenhagen’s S-Bane. DSB expects the first new trains to roll out from 2032, with deliveries stretching through 2040. CEO Flemming Jensen described it as “the largest investment in the 90-year history of the S-Bane.” The project could drive roughly 10 million more journeys annually thanks to increased frequency. 5
Siemens remains close to the upper end of its recent trading band. During Friday’s session, the shares moved between 243.95 and 251.40 euros on a volume of about 1.04 million. The stock trades roughly 6% under its 52-week peak of 266.25 euros. 6
Thursday brings the next hard catalyst. Siemens will post its first-quarter figures on Feb. 12 at 07:00 CET, with a press conference call and an analyst call lined up for later that morning. 7
Siemens gathers shareholders for its annual meeting this day at Munich’s Olympiahalle, opting for an in-person format. 8
Investors are zeroing in on order intake, margins, and cash conversion this time around. They’ll also want details on how demand is shaping up in factory automation and building technology. Mobility—especially after the Copenhagen win—will likely be under the microscope, with rail grabbing fresh headlines.
The Denmark contract stretches far into the future, set up as a framework deal, with first deliveries not due until 2032. Big rail projects carry plenty of execution risk: certification delays, rising component prices, and cybersecurity demands for automated systems can all put pressure on margins well before any trains enter service.
Xetra in Germany resumes trading Monday, Feb. 9. Siemens is already slipping below its Friday close. But Feb. 12 looms larger: results and the AGM arrive, both likely to steer the next phase.
