The Montenegro Stock Exchange experienced mixed results during the week when it was reported that the budget deficit for the first two months amounted to EUR 32.1 million, or 0.4% of the estimated gross domestic product (GDP).
The MNSE10 index, which tracks the top ten companies on the Montenegro Stock Exchange, saw a slight increase, reaching 1,187.96 points, while the MONEX index declined by 0.5% to 17,708.75 points.
Total trading volume amounted to EUR 243.36 thousand, representing a 14.6% decrease compared to the previous week.
According to the Ministry of Finance, this performance is EUR 71.4 million better than the plan, which projected a deficit of EUR 103.5 million. The Ministry also reported that the budget revenues for the first two months amounted to EUR 335 million, or 4.2% of the estimated GDP, which is EUR 3.8 million, or 1.2%, higher than in the same period last year.
Shares of Tara Aerospace increased by 10% to EUR 1.1, Crnogorski Telekom rose by 7.5% to EUR 2.43, and Hipotekarna Banka gained 2.2% to EUR 9.5.
Shares of Crnogorski Elektroprenosni Sistem (CGES) strengthened by 4.2% to EUR 1.25. CGES reported a net profit of EUR 24.8 million for the previous year, with plans to continue investments and development to meet growing user needs.
“We have achieved excellent results since the company’s founding, and since 2021, we’ve had historic achievements. In 2023, we reached a record profit of EUR 35.7 million, bringing our total profit to almost EUR 100 million since I became Chairman of the Board,” said Aleksandar Mijušković, the company’s chairman, in an interview with Mina-business.
Shares of Elektroprivreda (EPCG) slightly increased to EUR 5.42. EPCG reported that it is entering the final phase of the ecological reconstruction and modernization of the Pljevlja Thermal Power Plant, which temporarily went out of service this week for the final works of this important project.
EPCG noted that more than 90% of the equipment, mostly from China, has already been delivered and largely installed, with the remaining parts expected by June. Logistics are progressing according to plan, with equipment containers delivered to the ports of Bar and Pljevlja in mid-March, and materials critical for the chimney lining expected by April 6.
Shares of Luka Bar remained stable at EUR 0.34.
Shares of Kotor-based Napredak fell by 16% to EUR 0.042, Port of Adria dropped by 10% to EUR 0.27, Budvanska Rivijera HTP decreased by 10% to EUR 7.2, and Jugopetrol fell by 4.7% to EUR 14.3.
The week was also marked by the announcement that non-governmental organizations, led by the Center for the Protection and Study of Birds (CZIP), launched a petition to preserve the Big Beach (Velika Plaža) and ensure its protection at national and international levels.
In celebration of the municipality’s day, citizens of Ulcinj held a large protest at the Small Beach, carrying banners reading “Ulcinj is not a shopping center,” “Don’t take the sea from us,” and “Ulcinj is not your emirate, Spajić.”
The Government of Montenegro and the United Arab Emirates signed a cooperation agreement in tourism and real estate development, which will enable long-term leasing and valuation of the most valuable natural locations.
Following a completed review, the Montenegro Stock Exchange announced that the “Simo Milošević” Institute and Zetatrans have been included in the MNSE10 index, while the shares of Napredak Kotor and Veleprodaja were removed.
The MONEX index was also revised, with five new companies being added: Hotels and Tourism Company (HTP) Mimoza Tivat, Barska Plovidba, Čelebić Invest, Primorje Hotels & Restaurants Tivat, and the Republic Institute for Urbanism and Design.
In March, the total trading volume on the Montenegro Stock Exchange amounted to EUR 921.27 thousand, an increase of 545.57% compared to February.
“Compared to March of last year, the trading volume increased by 430.22%. The average daily turnover last month was EUR 43.87 thousand,” according to the Montenegro Stock Exchange Bulletin.
During 21 days of trading in March, 98 transactions were concluded.
