This week on the Montenegro Stock Exchange was marked by contrasting index trends and a significant rise in trading volume, coinciding with the release of Montenegro’s third-quarter economic growth data.
The index tracking the performance of the ten largest companies on the Montenegro Stock Exchange, MNSE10, increased by 0.4%, reaching 1,084.69 points, while MONEX slightly weakened, falling to 16,285.79 points.
Trading volume during the week amounted to €212.37 thousand, nearly four times higher than the previous week.
Preliminary data from the Statistical Office of Montenegro (Monstat) showed that Montenegro’s Gross Domestic Product (GDP) grew by 2.6% in the third quarter of this year. According to these preliminary results, GDP in the third quarter amounted to €2.36 billion, compared to €2.21 billion in the same period last year.
The biggest gain of the week was seen in the share price of Poliex, which surged nearly 40% to €0.363. Other notable price increases included IGM Račica Tivat, which doubled its value to €2, Solana “Bajo Sekulić,” which grew by 9% to €1.2, Elektroprivreda, which gained 1.7% to €5.41, and Građevinski nadzor i laboratorijska ispitivanja, which rose slightly to €50.
Other gainers included Plantaže, which climbed 4.5% to €0.206, and Luka Bar, which gained 0.8% to €0.262.
Among the losers were Hotelska Grupa Budvanska Rivijera, which dropped 6.7% to €7, Jugopetrol and Institut za Crnu Metalurgiju, both of which lost 1% to €13.86 and €1, respectively, as well as Crnogorski Telekom, which declined 0.9% to €2.13.
Shares of Crnogorski elektroprenosni sistem and Veleprodaja Nikšić traded at unchanged prices of €1.4 and €25, respectively.
Eurofond traded at €0.0043 per share.
This week also saw the announcement that Agri Europe Cyprus signed a deal to acquire shares aiming for 7.67 million shares in Hipotekarna Banka Podgorica.
“This share package represents about 74.93% of the share capital of Hipotekarna Banka,” said the bank in a statement published on the Montenegro Stock Exchange website.
The agreed price per share is €9.77.
“The finalization of the share transfer, expected in the coming months, is subject to obtaining all necessary regulatory approvals from the Central Bank (CBCG), the Competition Protection Commission, and fulfilling other usual conditions for share sales,” the statement added.
The week was also marked by news that EPCG (Electric Power Company of Montenegro) plans to announce a public call by the end of the year for the procurement of 300 MWh of battery systems, which are one of the key components of the green transition.
Milutin Đukanović, President of EPCG’s Board of Directors, spoke at the “New Era of Energy: Where Are Regional Power Companies Today – Plans for the Future” international expert conference, organized by the Chamber of Commerce of Belgrade. He said that EPCG’s business philosophy is guided by certain principles.
“The first principle is ‘produce where you consume,’ which has led us to develop solar energy production through the Solari projects, which have already proven their profitability. The second principle is to integrate and utilize our hydroelectric energy structure to connect with solar energy potential,” Đukanović emphasized.
He added that EPCG is already working on implementing the third principle, which is the development of battery systems.
EPCG also reported that the average November electricity bill for households in Montenegro, excluding readings from meters in uninhabited properties, was €37.35.
The government has also proposed amendments to the Pension and Disability Insurance (PIO) Law, aiming to introduce payments to top up pensions for beneficiaries receiving proportional pensions, in line with an international social security agreement.
In another development, the Parliament reapproved the Oil Derivative Supply Security Law, which was returned for reconsideration by President Jakov Milatović in late November.
