GREECE DAYBOOK: Greece Close to EU, IMF Agreement, Paper Says

Greece is close to an agreement with the European Commission, European Central Bank and the International Monetary Fund on a fiscal plan and privatization program, Kathimerini newspaper reported, citing people close to Prime Minister George Papandreou. Details are expected to be settled by tonight or tomorrow morning, the newspaper said.

WHAT TO WATCH: *PM George Papandreou attends climate change event hosted by Bank of Greece at 12 p.m. at Megaro Mousikis *Bank of Greece governor George Provopoulos also speaks at climate change event at Megaro Mousikis *EU’s Olli Rehn said Greek solution lies in combining bold deficit cuts with willingness from lenders to roll over expiring bonds *Nobel laureate Christopher Pissarides speaks at KPMG event at Athanaeum Intercontinental at 1 p.m.

ECONOMY: *Greek March retail sales fall 13.2% *Bank lending to household and business contracted 0.5 percent in April

EARNINGS: *Sarantis (SAR GA), reports 1Q 2011 earnings after market close

EQUITIES: *GEK Terna (GEKTERNA GA) reports 1Q net of EU1M *Athens Water (EYDAP GA) posts 1Q profit of EU4.4M vs EU143,000 *Thessaloniki Water (EYAPS GA) posts 1Q net of EU5.6M *Thessaloniki Port (OLTH GA) releases 1Q net of EU11.9M *Hellenic Bank (HB CY) releases 1Q net of EU916,000 from EU7.1M *Alapais (ALAPIS GA) posts 1Q loss of EU22.2M from year-ago profit of EU20.5M *S&B Industrials (ARBA GA) holds OGM

ANALYST RATINGS: *Ellaktor (ELLAKTOR GA) price est. cut to EU3.3 from EU4 at Cheuvreux

MARKETS: *The ASE Index rose 37.54 or 5.6% to 1,309.46 *FTSE/ASE 20 Index gained 6.8% to 587.26 *Cypriot General Index gained 7.1% to 817.99 *Greece 2YR Bond Yields: 25.01% - 10YR Bond Yields: 16.04% *10YR bond spread against German bunds -- 13.02 ppts *Euro -- U.S. $1.44 *The MSCI Asia Pacific Index gained 0.4% as of 1:49 p.m. in Tokyo, as rivals of Nokia Oyj gained after the mobile-phone maker lowered its sales and profit forecasts as it lost market share to rivals including Apple Inc.

BLOOMBERG TV: *9 a.m. James Shugg, Westpac, European markets and the likelihood of restructuring in Greece, Portugal *9:14 a.m. Richard Clarida, Pimco, European debt crisis, Fed action and inflation worries *9:40 a.m. Bob Parker, Credit Suisse, latest news on Greece *11:40 a.m. Notis Mitarachi, New Democracy, main Greek opposition party’s head of economic policy

To contact the editor responsible for this story: Chris Malpass at cmalpass@bloomberg.net

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