The Montenegro Stock Exchange marked a week of mixed activity, with index values rising while trade volume saw a notable decrease, amid a lack of significant economic events.
The MNSE10 index, representing the top ten companies, increased by 2% to reach 1,056.64 points. Similarly, the MONEX index rose by 1.7% to 16,008.06 points.
Overall trading volume totaled €161,960, reflecting a 24% decline compared to the previous week.
Notable stock movements included Port of Adria, which saw its shares rise by 6.5% to €0.1948, and Crnogorski Telekom, which gained 1.9%, closing at €2.15. In contrast, shares of Ulcinjska Rivijera remained steady at €5.80.
Trading activity also included Elektroprivreda, Jugopetrol and Sveti Stefan hotels, which were priced at €5.52, €12.80, and €5.50, respectively. Montecargo shares ended the week at €0.261, while Željeznička infrastruktura closed at €1.78 and Luka Bar at €0.27.
This week, the NGO Action for Social Justice (ASP) reported that revenue from the Smokovac-Mateševo highway, which opened in July 2022, reached over €18 million by early September, excluding VAT.
Data from Monteput indicated that total expenses and investments this year amounted to €21.8 million, with costs at €12.2 million and investments close to €9.6 million.
“In its first year, from July 2022, revenues surpassed €3.5 million. Last year, revenues were nearly €8 million, and for the first eight months of this year, they total around €6.5 million,” the statement noted.
In terms of expenses, nearly €3 million were recorded in 2022, rising to €5.6 million last year, and totaling €3.6 million from January to August this year.
Additionally, the tender for the conceptual design of the Adriatic-Ionian highway section from Bar and Ulcinj to the Sukobin border crossing was canceled. Valued at €150,000, the tender was annulled after disqualifying bidders due to improperly prepared submissions.
Monteput is expected to issue a new tender, which will likely delay the timeline for the conceptual design and the start of construction.
The week also featured a study by the Union of Free Trade Unions (USSCG) and the Center for Education, Information, and Trade Union Research (CEISI), revealing that the Trade Union Consumer Basket (SPK) for the third quarter amounted to €2,000, representing a 6.95% increase from the previous quarter.
CEISI coordinator Jelena Mitrović noted that of the ten expense categories defined for the SPK, five saw increases this quarter, including food costs (up 3.42%), imputed rent (up 11.43%), housing and utilities (up 6.67%), education and culture (up 30%), and summer vacations (up 25%).
Mitrović highlighted a rise in food costs this quarter, reversing a previous decline.
“The increase is due to the suspension of the Limited Price initiative over the summer, which negatively impacted the basket. The government launched a new measure on September 6, incorporating products suggested by CEISI, and we expect prices to decrease due to this new state measure,” she explained.
Vladimir Drobnjak, acting director of the Pension and Disability Insurance Fund (PIO), announced that pensioners in Montenegro would see a pension increase of approximately €50 in January.
He mentioned that budget planning for the next year is in progress and discussions with the Ministry of Finance are ongoing.
“This year’s budget will be slightly larger, which will improve our situation and ensure that there are no concerns regarding the security of pensions,” Drobnjak stated.
The week also included a regular review of stock indices, resulting in the inclusion of Plantaže and Napredak Kotor in the MNSE10 index, while shares of Lovćen Bank and the Business Logistics Center (PLC) Morača were removed.
Following the review, the MONEX index welcomed four new companies: Željeznički prevoz, Željeznička infrastruktura, Montecargo, and Montenegro-express Group Budva, while shares of Čelebić Invest and Otrantkomerc were excluded.
The Montenegro Stock Exchange reported a total trading volume of €8.26 million in the first three quarters, a decrease of 0.62% compared to the same period last year.
“The average daily trading volume in the first three quarters was €45,140,” stated the quarterly bulletin of the Montenegro Stock Exchange.
