Brazilian Stock Movers: Cemig, Cosan, Positivo Informatica
Stock Chart for Cia Energetica de Minas Gerais (CMIG4)
The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses and prices are as of 4:15 p.m. New York time. Preferred shares are usually the most-traded class of stock.
The Bovespa Index rose 0.2 percent to 64,340.50.
Cia. Energetica de Minas Gerais (CMIG4 BS), the electricity utility known as Cemig, gained 4.1 percent to 30.87 reais. Spain’s Abengoa SA agreed to sell stakes in transmission lines in Brazil to Cemig for 485 million euros ($706 million), according to a PR Newswire statement.
Cosan SA Industria e Comercio (CSAN3) (CSAN3 BS) advanced 2.3 percent to 24.80 reais. Cosan, which shares control of the world’s biggest sugar-cane processor, followed sugar prices higher.
Positivo Informatica SA (POSI3) (POSI3 BS), Brazil’s biggest computer maker, jumped 15 percent to 7.80 reais. Lenovo’s June 1 offer to buy control of Germany’s Medion AG reawakened speculation that the Chinese company will make a new takeover bid for Positivo, said Marcelo Varejao, an analyst at Socopa Corretora brokerage in Sao Paulo.
Adriana Grandeza, a Sao Paulo-based spokeswoman for Lenovo, didn’t immediately return an e-mail and phone message seeking comment outside regular business hours. Fernanda Santos, an officer at an outside press agency representing Positivo, wasn’t immediately able to comment.
To contact the editor responsible for this story: David Papadopoulos at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.