The week on the Montenegro Stock Exchange was characterized by divergent index movements and a notable surge in trading activity, highlighted by new data revealing that 61.2 million EUR, equivalent to 26% of the planned amount, was allocated to capital projects in the first half of this year.
The MNSE10 index, representing the top ten companies, saw a slight decline to 991.28 points, while MONEX strengthened by one percent to reach 15,084.32 points.
Trading volume soared to 419.1 thousand EUR, nearly 30 times higher than the previous week, largely driven by the significant sale of 5.13 thousand shares of Napredak from Kotor, amounting to 355.89 thousand EUR.
Shares of Napredak were priced at 6.93 cents on Friday.
Among notable stock movements, Plantaže shares rose by 8.8% to 16 cents, while Elektroprivreda and Crnogorski elektroprenosni sistem saw slight gains, reaching 5.37 EUR and 1.43 EUR, respectively. The shares of Poslovno logistički centar Morača saw a marginal increase to 4.01 EUR.
Conversely, Port of Adria shares fell by 8.5% to 14 cents, and Crnogorski Telekom shares saw a slight decrease to 2.05 EUR.
Trading also included shares of Hipotekarne banke, Jugopetrol, and Ulcinj Solana, closing the week at 5.9 EUR, 12.01 EUR, and 1.99 EUR, respectively. Industriaimport-Industriaimpeks shares were priced at 10.24 EUR on Friday, Luka Bar at 29.25 cents, and Otrantkomerc at 48 cents.
The report on the capital budget execution for the second quarter indicated a significant improvement of 66% compared to the same period last year, when 36.69 million EUR was spent.
This year’s budget law allocates 240.01 million EUR for the implementation of 332 projects with a total estimated value of 2.9 billion EUR.
Earlier in the week, Elektroprivreda offered to lease production capacities in its subsidiary EPCG Željezara Nikšić, aiming to sustain and enhance steel production in a factory with a long-standing tradition of over 65 years. Interested parties have until July 24th to submit their bids.
Participation is open to all companies, domestic and international, operating in compliance with Montenegrin laws. The selected lessee will enter into a lease agreement and must submit a statement accepting the proposed contract. Upon selecting the best offer based on predefined criteria, its terms will be integrated into the final contract.
Companies applying must provide precise offers for the lease of production capacities in accordance with the proposed terms. The production commencement date will be stipulated in the contract proposal and must be agreed upon by the bidder. The lease period ranges from a minimum of 15 years to a maximum of 50 years.
Midweek, the Balkan Investigative Reporting Network (BIRN) released findings showing that five state-owned electric companies distributed over 6.5 million EUR in donations and sponsorships over the past six years, accompanied by a notable increase in workforce.
Overall figures reveal that Elektroprivreda, Crnogorski elektrodistributivni sistem, Crnogorski elektroprenosni sistem, EPCG Solar gradnja, and EPCG – Željezara Nikšić collectively generated revenues totaling 3.49 billion EUR during the same period.
Expenses amounted to 2.81 billion EUR, with personnel costs totaling 373.33 million EUR.
BIRN highlighted that these companies were scrutinized amidst speculation regarding the political use of their funds by leadership figures.
The week also witnessed the government’s decision to replace Marko Anžur as executive director of ToMontenegro, appointing Vukadin Stojanović as the acting executive director alongside newly appointed board members Tihomir Dragaš, Mitar Šušić, Aleksandra Gardašević Slavuljica, Petar Glomazić, and Giuseppe Renga.
