NewsMontenegro Stock Exchange sees index decline and limited trading amid margin cap...

Montenegro Stock Exchange sees index decline and limited trading amid margin cap decision

Supported byOwner's Engineer banner

This week, the Montenegro Stock Exchange experienced a decline in its indices and modest trading activity, coinciding with the announcement that the government is close to finalizing a decision on margin caps.

The MNSE10 index, which tracks the top ten companies on the exchange, fell by 0.5% to 987.96 points. Similarly, the MONEX index dropped by 0.4% to 15,038.34 points.

Supported by

Trading volume surged to €470,090, a 20-fold increase from the previous week.

Economic Development Minister Nik Gjeloshaj revealed that the new margin cap decision is nearing completion and will apply to a broader range of products than the previous price limit decision. He noted that while margins on five essential goods were recently capped, the new decision, following ongoing consumer research, will cover hundreds of items.

Supported byElevatePR Digital

“The new decision is nearing completion and will encompass more items than the previous Price Limit decision. It will come into effect after completing the necessary legal procedures, government approval, and publication in the Official Gazette,” Gjeloshaj said.

Prime Minister Milojko Spajić also emphasized that the government aims to control price increases and ensure that wage growth under the “Europe Now 2” program remains sustainable, benefiting citizens directly.

“The government is committed to curbing inflationary pressures and ensuring that wage increases under Europe Now 2 are sustainable, so citizens experience genuine benefits rather than a disparity between rising prices and wages,” Spajić stated. He affirmed that government policy will ensure wage growth exceeds inflation.

Trading this week was confined to a few companies. Shares of Crnogorski elektroprenosni sistem (CGES) fell by 3% to €1.29, while shares of Elektroprivreda (EPCG) decreased slightly to €5.24. The share prices of Crnogorski Telekom and Veleprodaja remained unchanged at €2.15 and €25, respectively.

Nikola Tripković, Director of the Investment and Development Fund (IRF), was appointed as the Chairman of the Board of Directors of Plantaže this week.

The total trading volume on the Montenegro Stock Exchange for July was €1.25 million, representing a 24.05% decrease compared to June and a 36.72% drop year-over-year. The average daily trading volume for the month was €56,640, according to the Montenegro Stock Exchange Bulletin.

The Tax Administration (PU) reported that it collected €952 million in gross revenue for the first seven months of this year, an increase of €172.6 million or 22% compared to the same period last year. This amount exceeded the collection plan for January through July by €114.5 million or 14%.

Additionally, all 11 commercial banks in Montenegro reported positive results for the second quarter of this year, with a combined profit of €87.23 million.

Supported byspot_img

Related posts
Related

Supported byspot_img
Supported byspot_img
Supported byInvesting Montenegro logo
Supported byMonte Business logo
error: Content is protected !!