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Strong growth of the index and modest turnover on the Montenegro Stock Exchange

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Turnover, realized through 18 transactions, amounted to 12.1 thousand euros and was 46 times lower than last week’s

The strong growth of the index and modest turnover marked a week on the Montenegro Stock Exchange in which there were no significant economic events. The value indicator of the ten best companies MNSE10 increased by 2.8 percent to 870.41 points, and MONEX by 2.6 percent to 12,281.38 points.

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Turnover, realized through 18 transactions, amounted to 12.1 thousand euros and was 46 times lower than last week’s. The largest share of turnover was held by the shares of Luka Bar, which were traded for a total of 4.63 thousand euros. The bar company’s share rose 29 percent to 71 cents on a weekly basis.

The share of Solana “Bajo Sekulić” also increased by 71 percent to 1.54 euros, Jugopetrol slightly to 11.51 euros, Zetatrans eight percent to 95 cents and Montenegrin Electric Transmission System (CGES) 0.7 percent to 91.67 cents. Sveti Stefan hotels Budva and Hotelska grupa (HG) Budvanska riviera lost slightly to 3.5 and 6.5 euros, respectively.
Shares of the Bijelo Polje company Jekon were also traded, which maintained last week’s price of 100 euros. The share price of the Trend fund was 5.3 cents.

This week, the Electric Power Company (EPCG) announced that the Thermal Power Plant (TE) Pljevlja marks four decades of successful operation, marking the beginning of the ecological reconstruction of the first block, recultivation of the existing slag and ash landfill, but also safe and reliable production in the midst of the global energy crisis.

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Also, during the night, from Tuesday to Wednesday, TE Pljevlja continued the production of electricity, after a ten-hour stoppage due to a failure of one of the transformers for its own consumption.

Since the beginning of the year, TE Pljevlja has produced 1.06 thousand gigawatt hours (GWh) of electricity, which is 5.8 percent above the plan for this period. The payment of the increased minimum pension, which now amounts to 253 euros, also began this week.

As of September 1, the lowest pension increased by an additional 36 percent plus ten percent, with a regular adjustment of 4.35 percent. In the name of an extraordinary pension adjustment of 36 percent, pensioners received the amount of the difference for the period from January 1 to September 1.

This week, the State Audit Institution (DRI) gave negative opinions on the financial and regularity audit of the Bill on the final account of the budget of Montenegro for the past year.

The financial audit established that the Bill on the final budget account contains identified errors in the financial report that have a material and pervasive effect on the financial report.

The regularity audit determined that the consumer units did not, in all materially significant aspects, harmonize their business activities with the legal and other regulations that regulate budgetary operations in Montenegro, and accordingly the competent Board expresses a negative opinion, local media reports.

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