Montenegro’s stock market saw modest index gains and significantly higher trading this week, amid a strike by 85 train dispatchers, traffic controllers, and telecom operators at ŽICG, which halted train operations.
The MNSE10 index of the ten largest companies rose 0.3% to 1,137.98 points, while the MONEX index edged up to 17,581.1 points. Trading volume reached €1.71 million, 12 times higher than the previous week. ŽICG shares fell 4% to €0.0553.
The striking employees demand higher wages and called on the government to intervene, while ŽICG CEO Marina Bošković emphasized that salary increases are not solely under management’s control and rejected ultimatums.
Other notable market movements included gains in Port of Adria shares (+5.3% to €0.2106), Budvanska Rivijera (+2.7% to €7.5), and Crnogorski Telekom (+2.35%). Luka Bar shares fell slightly to €0.3097, while Marina Bar and Jugopetrol remained stable at €3.2 and €15, respectively.
Separately, Luka Bar received a modular Liebherr LHM550 mobile port crane, with installation expected by September 6. The total investment is €4.9 million (excluding VAT).
In energy news, Elektroprivreda Crne Gore (EPCG) and the European Bank for Reconstruction and Development (EBRD) signed a €25 million loan agreement to expand the Gvozd 2 wind farm. The expansion adds three new turbines, bringing total installed capacity to 75.6 MW, generating over 210 GWh annually—enough to power 35,000 households—and reducing CO₂ emissions by nearly 137,000 tons per year.
