German stocks - Factors to watch on January 23

FRANKFURT Thu Jan 23, 2014 2:25am EST

FRANKFURT Jan 23 (Reuters) - The DAX top-30 index looked set to open 0.2 percent lower on Thursday, according to premarket data from brokerage Lang & Schwarz at 0714 GMT.

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

ALLIANZ

Indicated 0.3 percent lower

Bill Gross, co-chief investment officer of Allianz's Pimco unit, said the firm plans to appoint more deputy investment managers in the coming weeks after the departure of Chief Executive Mohamed El-Erian, Bloomberg reported Wednesday.

Separately, São Paulo-based Itaú Unibanco Holding SA said on Wednesday it will put its high-risk corporate insurance unit up for sale in coming days. Valor Econômico newspaper reported Itaú delivered a sale prospectus to 10 insurers, including Allianz.

TUI

TUI indicated 0.2 percent higher

Chilean shipper Vapores said on Wednesday it signed a non-binding memorandum of understanding to take a 30 percent stake in Germany's Hapag-Lloyd, which is 22 percent owned by TUI.

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CELESIO

Celesio indicated 1.8 percent higher

The majority shareholder behind German drugs distributor Celesio is in talks to buy the shares in Celesio held by hedge fund Elliott as part of a fresh attempt to sell the company to U.S. drugs wholesaler group McKesson, a person familiar with the talks told Reuters.

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LEG IMMOBILIEN

No indication available

Goldman Sachs said it intends to place as much as 15.2 million shares or 28.65 percent in real estate group LEG via an accelerated bookbuilding with institutional investors.

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ANALYSTS' VIEWS

Lanxess - Barclays cuts to underweight from equal weight

Rhoen Klinikum - Jeffries raises to buy from hold

K+S - Barclays raises to equal weight from underweight.

OVERSEAS STOCK MARKETS

Dow Jones -0.3 pct, S&P 500 +0.1 pct, Nasdaq +0.4 pct at Wednesday's close.

Nikkei -0.8 pct at Thursday's close.

GERMAN ECONOMIC DATA

January flash PMI due at 0828 GMT. Seen at 54.6 from 54.3 in the previous month. Services PMI seen at 54.0 from 53.5

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