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Tuesday, May 28, 2024
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Montenegro stock exchange: Opposite directions in holiday trading

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In a shortened trading week due to holidays, Montenegro’s stock exchange indices moved in different directions, with a total turnover of nearly 60 thousand EUR.

The benchmark MNSE10, representing the top ten companies, experienced a slight decline, settling at 992.19 points, while the MONEX index strengthened by 0.4 percent to reach 14,788.4 points.

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Trading activity over the two days, owing to May Day and Orthodox Easter observances, amounted to 57.68 thousand EUR, marking nearly a threefold decrease compared to the previous week.

Shares of Sveti Stefan Hotels Budva saw a notable increase of 14.6 percent, reaching 4.7 EUR, while shares of Port of Bar dipped by 2.5 percent to 30.8 cents.

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Meanwhile, Business-Logistic Center (PLC) Moraca and Profit App International maintained their share prices at 4.5 EUR and 18.18 EUR, respectively.

The Ministry of Finance released its budget execution report for the first quarter, revealing revenues of 578.5 million EUR and expenditures of 583.4 million EUR. This resulted in a budget deficit of 4.9 million EUR for the period, significantly lower than the planned deficit of 117.7 million EUR.

March alone witnessed budget revenues of 244.5 million EUR against expenditures of 231.1 million EUR, yielding a surplus of 13.4 million EUR.

In other news, Elektroprivreda (EPCG) initiated its 12th “Share the Burden” campaign, offering household customers favorable terms for settling electricity consumption debts. This initiative will run until the end of July.

Additionally, EPCG announced a payout of nearly 270 thousand EUR to participants of the Solari project, who installed photovoltaic systems on their rooftops.

The Board of Directors of Rudnik Uglja Pljevlja unanimously appointed Nemanja Laković as the Executive Director, following his tenure as Acting Director since April 5.

Looking at corporate performance, Montenegro Stock Exchange analyzed the financial results of MNSE10 constituents, reporting a combined net profit of 108.7 million EUR for the previous year. The ten companies recorded a net profit of 36.49 million EUR in 2022.

Overall, despite the holiday-shortened trading week, Montenegro’s stock exchange demonstrated a range of activities and developments across various sectors.”

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