The Montenegro Stock Exchange noted a rise in its indices and modest trading activity during a week without significant economic developments.
The MNSE10 index, representing the top ten companies on the exchange, increased by 1.8%, reaching 1,075.62 points, while the MONEX index rose by 1.3% to 16,218.82 points.
Trading volume amounted to nearly €176,000, reflecting an 8.6% increase compared to the previous week.
Several companies experienced price increases, including Plantaže, which saw a 13% rise to €0.175, Željeznička infrastruktura up 9.6% to €0.0195, Jugopetrol climbing 5.5% to €13.50 and Crnogorski elektroprenosni sistem (CGES) rising by 1.4% to €1.43.
On the other hand, shares of Port of Adria fell by 1.4% to €0.192, Poslovno-logistički centar Morača decreased by 1% to €4.45, and Elektroprivreda (EPCG) dropped by 0.4% to €5.50.
Some companies’ shares remained unchanged, including Montenegroberza at €600, Veleprodaja at €25, TP Centar Ražnatović at €12.78, Crnogorski Telekom at €2.15 and Luka Bar at €0.27.
EPCG representatives announced plans to significantly boost investments in Montenegro’s energy sector.
Milutin Đukanović, Chairman of EPCG’s Board of Directors, emphasized at the Energy Week Western Balkans 2024 conference in Pržno that securing more “green” megawatts is crucial for providing clean energy and reducing harmful emissions.
He highlighted that EPCG has signed memoranda with esteemed companies Hyundai and UGRT.
“We are prepared to work with partners and international investors to enhance Montenegro’s energy sector,” stated Đukanović.
Additionally, EPCG reported that the average electricity bill for households in Montenegro for September was €29.32, excluding unread meters in non-permanent residences.
In September, households consumed 106.42 million kilowatt-hours (kWh) of electricity, a 31% decrease from August but a 6.42% increase compared to September of the previous year.
This week, the government approved information regarding negotiations and the conclusion of a Framework Agreement with the French Development Bank (AFD) concerning Development Policy Loans (DPL).
Under this agreement, there is potential for two loans: the first DPL loan of €50 million this year and another of the same amount next year.
Lawmakers also reapproved the Law on the Development Bank, which President Jakov Milatović had previously returned to parliament for reconsideration.
Additionally, the Law on Electronic Communications and amendments to the Law on Copyright and Related Rights were also re-adopted.
