October 31, 2018 / 1:34 PM / 10 months ago

Brazil's Cielo rises 7 pct waiting for new CEO plans

SAO PAULO, Oct 31 (Reuters) - Brazil’s payment company Cielo SA’s common shares rose 7 percent in morning trading in Sao Paulo to 13.51 reais, following third quarter results that missed estimates.

Brazilian broker XP Investimentos said in a note to clients the third quarter was “difficult,” but the market is hoping for good news regarding newly appointed Chief Executive Officer Paulo Caffarelli’s plans for the company. “He did an excellent job as CEO of Banco do Brasil,” XP analysts wrote. (Reporting by Tatiana Bautzer Editing by Chizu Nomiyama)

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