German stocks - Factors to watch on Jan 23

FRANKFURT Jan 23 (Reuters) - The DAX top-30 index looked set to open little changed on Wednesday, according to premarket data from brokerage Lang & Schwarz at 0717 GMT.

The following are some of the factors that may move German stocks:

SIEMENS

Indicated 0.1 percent higher

The group warned that demand for products such as industrial automation and drive technologies was weakening as it posted a decline in new orders for its fiscal first quarter.

Separately, Italian state-backed financing agency Cassa Depositi e Prestiti said it is still in talks to buy a stake in Finmeccanica's power engineering unit AnsaldoEnergia, in which Siemens has expressed interest.

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SAP

Indicated 0.6 percent lower

The business software maker said revenue growth from software and software-related services would slow to 11-13 percent this year, from 17 percent in 2012, as customers spend less on technology amid economic uncertainty.

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BAYER

Indicated 0.2 percent lower

Switzerland's Novartis has proposed Bayer healthcare head Joerg Reinhardt to replace Daniel Vasella as chairman.

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BMW

Indicated 0.1 percent higher

Toyota is close to finalising plans announced late in June to license its fuel cell technology to German ally BMW, an area where it has lagged rival Mercedes-Benz.

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DEUTSCHE BANK

Indicated 0.7 percent higher

The bank will pay nearly $1.7 million to settle allegations it manipulated electricity markets in California in 2010, federal regulators said on Tuesday.

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RWE, E.ON

RWE indicated 0.5 percent higher

E.on indicated unchanged

Germany's power grid is adequate in the current winter season as enough reserve capacities are in place to shield the country from disruptions after it switched off large parts of its nuclear generation plants.

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BANKS, INSURERS

The head of German financial watchdog BaFin suggested a corrupted system of setting key benchmark interbank lending rates needed to be replaced, rather than reformed, and said Solvency II rules for insurers would realistically take effect in January 2017.

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TUI AG

Indicated 3.0 percent lower

The travel and tourism group said it had no intention of making an offer for majority-owned unit TUI Travel .

AXEL SPRINGER

Indicated 3.0 percent higher

A proposal to set up powerful media regulators across Europe monitored by Brussels provoked a backlash on Tuesday from publishers who said it would have a devastating impact on press freedom.

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DRAEGERWERK

No indication available

The company forecasted its EBIT margin in 2013 would be between 8.0 and 10.0 percent.

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HESS

No indication available

The sacked chief executive, Christoph Hess, plans to take legal actions to defend himself from allegations of fraud that sent the share price crashing on Monday, saying he was not even told what exactly were his supposed wrongdoings.

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OVERSEAS STOCK MARKETS

Dow Jones up 0.5 pct, S&P 500 up 0.4 pct, Nasdaq up 0.3 at Tuesday's close.

Nikkei down 2.1 pct at Wednesday's close.

GERMAN ECONOMIC DATA

EUROPEAN FACTORS TO WATCH

DIARIES

REUTERS TOP NEWS (Reporting by Christiaan Hetzner and Victoria Bryan)