The week on the Montenegro Stock Exchange was marked by diverging index trends and increased trading volume, as Montenegro’s total public debt was reported to be EUR 4.54 billion at the end of June, amounting to 62.37% of the country’s gross domestic product (GDP).
The value indicator of the ten best companies on the Montenegro Stock Exchange, MNSE10, slightly weakened to 994.49 points, while the MONEX index strengthened to 15,126.39 points.
Trading volume amounted to EUR 742.47 thousand, which is 21 times higher than last week’s.
“Considering the deposits of the Ministry of Finance, including 38.48 thousand ounces of gold, Montenegro’s net public debt at the end of June was EUR 3.91 billion, or 53.67% of GDP,” according to data from the Ministry of Finance’s Report on State and Public Debt.
The total state debt without deposits at the end of June was EUR 4.48 billion, or 61.51% of GDP. Including deposits, the total net state debt amounted to EUR 3.84 billion, or 52.81% of GDP.
Shares of the Montenegrin Electricity Transmission System (CGES) fell by 5% to EUR 1.33.
Shares of the Electric Power Company (EPCG) dropped by 1.9% to EUR 5.28. EPCG and Plantaže signed a Memorandum of Understanding to establish and intensify cooperation, focusing on joint renewable energy projects (OIE).
The memorandum was signed by EPCG and Plantaže’s CEOs, Ivan Bulatović and Igor Čađenović.
Both parties are interested in increasing the share of renewable energy in total consumption, improving energy efficiency, and actively participating in the energy transition process.
“Specifically, the most interesting projects for potential cooperation between EPCG and Plantaže involve the installation of photovoltaic systems on the roofs of Plantaže’s buildings and on land surfaces,” EPCG stated.
Shares of Montenegrin Telekom rose by 4.4% to EUR 2.15. Montenegrin Telekom reported revenue and operational profit growth in the first half of the year compared to the same period last year.
The company stated that the most significant growth within the customer base was in mobile telephony, with excellent results in fixed internet and television services.
In Montenegro’s highly competitive telecommunications market, Montenegrin Telekom has led customer satisfaction for six consecutive months, achieving its best result to date according to measurements by an independent foreign agency.
Financial results for Telekom in the first half of the year showed stable trends.
Shares of Jugopetrol rose slightly to EUR 12.5, while Port of Adria increased by 3.2% to EUR 14.45 cents.
Shares of First Bank remained unchanged at EUR 127.82, Wholesale at EUR 25, Plantaže at 16 cents, and Bar Port at 28 cents.
The week was marked by news that the production facilities of Nikšić Steelworks, a subsidiary of the Electric Power Company (EPCG), will operate under the Swiss company 8B Capital from Lugano for the next 50 years, with a monthly rent of EUR 31 thousand excluding VAT.
The lease agreement for the production capacities of Nikšić Steelworks was signed on Friday by the president of the EPCG Board of Directors, Milutin Đukanović and the authorized representative of the Swiss company, Igor Šamis.
“The preamble of the contract states that it will come into effect upon notarization by a competent notary within 30 days from the issuance of the decision by the Notary Chamber of Montenegro,” EPCG announced.
Đukanović noted that EPCG, as a state company, was unable to start steel production due to a ruling by the Competition Protection Agency, leading to the issuance of an international public call to secure a quality partner to initiate core production.
The government also adopted a Decision on Temporary Measures to Limit Prices of Products of Special Importance for Life and Health, and a product list.
“Considering that continuous market monitoring revealed ongoing price increases for basic food products due to external shocks, the Decision limits maximum margins to 5% in wholesale and 7% in retail for products such as wheat flour (types 400 and 500), sugar, sunflower oil, and table salt,” the government stated after a teleconference session.
The Decision, as explained, is the result of harmonizing the product list with the Chamber of Commerce, aiming to protect vulnerable low-income consumer groups while maintaining the commercial activities of retailers and wholesalers.
