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Brazilian Stock Movers: Cielo, Copasa and Cosan Were Active

July 2 (Bloomberg) -- The following companies had unusual price changes in Sao Paulo trading. Stock symbols are in parentheses, and prices are as of the market close. Preferred shares are usually the most-traded class of stock.

The Bovespa Index rose 0.6 percent to 54,692.79.

Cielo SA (CIEL3 BS), Brazil’s biggest card-payment processor, fell 0.6 percent to 58.70 reais. The company said in a regulatory filing today that it agreed to buy Merchant e-Solutions for $670 million to expand in the U.S.

Cia. de Saneamento de Minas Gerais (CSMG3 BS) rose 0.9 percent to 43.90 reais. Brazil’s third-biggest water utility by market capitalization was cut to the equivalent of sell from neutral at Bradesco Corretora by analysts Vladimir Pinto and Marcelo Sá, who cited a regulatory review of the company’s rates for which no timetable has been set.

Cosan SA Industria e Comercio (CSAN3 BS), a renewable energy and infrastructure company, dropped 0.2 percent to 30.92 reais after paring an earlier drop of as much as 3.1 percent. Subsidiary Raizen, a joint venture between Cosan, Royal Dutch Shell PLC and BASF SE, is required to deposit 1 billion reais ($504 million) in court until a decision on a lawsuit related to toxic material at its Paulinia plant, according to a regulatory filing today.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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